Arcadium Lithium (NYSE:ALTM) Shares Gap Up – Here’s What Happened

Arcadium Lithium plc (NYSE:ALTM) shares gapped up before the market opened on Tuesday . The stock had previously closed at $4.97, but opened at $5.17. Arcadium Lithium shares last traded at $5.20, with a volume of 2,756,164 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALTM. UBS Group raised Arcadium Lithium to a “hold” rating in a report on Tuesday, September 3rd. Argus lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. Macquarie lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 15th. B. Riley downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Hsbc Global Res raised Arcadium Lithium to a “hold” rating in a report on Thursday, October 10th. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.00.

Arcadium Lithium Trading Up 4.6 %

The company has a market cap of $5.59 billion, a price-to-earnings ratio of 19.26 and a beta of 1.44. The business has a fifty day moving average of $5.29 and a two-hundred day moving average of $3.90.

Arcadium Lithium (NYSE:ALTM) last announced its earnings results on Thursday, November 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The firm had revenue of $203.10 million during the quarter, compared to analysts’ expectations of $263.14 million.

About Arcadium Lithium

Arcadium Lithium plc engages in the production of lithium chemicals products in the Asia Pacific, North America, Europe, the Middle East, Africa, and Latin America. It offers battery-grade lithium hydroxide, lithium carbonate, butyllithium and high purity lithium metal for electric vehicles, electronics, agricultural, industrial, greases, polymers, pharmaceutical, battery, and aerospace applications.