Arcadium Lithium plc (NYSE:ALTM) Sees Significant Decrease in Short Interest

Arcadium Lithium plc (NYSE:ALTM) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 45,500,000 shares, a drop of 8.8% from the November 15th total of 49,900,000 shares. Currently, 4.4% of the company’s stock are sold short. Based on an average daily volume of 22,630,000 shares, the short-interest ratio is presently 2.0 days.

Analysts Set New Price Targets

ALTM has been the subject of several research analyst reports. Raymond James lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Macquarie downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 15th. Scotiabank lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. B. Riley downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Argus cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat, Arcadium Lithium has a consensus rating of “Hold” and a consensus price target of $11.00.

Arcadium Lithium Price Performance

Shares of NYSE ALTM traded down $0.03 during mid-day trading on Tuesday, hitting $5.06. The company had a trading volume of 11,567,032 shares, compared to its average volume of 15,030,735. Arcadium Lithium has a 12 month low of $2.19 and a 12 month high of $18.77. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 18.74 and a beta of 1.44. The firm’s 50 day simple moving average is $5.31 and its two-hundred day simple moving average is $3.88.

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

Arcadium Lithium Company Profile

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.