Arcadium Lithium plc (NYSE:ALTM) Sees Large Growth in Short Interest

Arcadium Lithium plc (NYSE:ALTM) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 81,370,000 shares, a growth of 8.7% from the September 15th total of 74,870,000 shares. Approximately 7.9% of the shares of the company are short sold. Based on an average daily trading volume, of 18,790,000 shares, the short-interest ratio is presently 4.3 days.

Arcadium Lithium Stock Performance

Shares of Arcadium Lithium stock remained flat at $5.53 on Thursday. 23,800,418 shares of the stock traded hands, compared to its average volume of 15,502,015. Arcadium Lithium has a 12-month low of $2.19 and a 12-month high of $18.77. The company has a market capitalization of $5.95 billion, a P/E ratio of 5.33 and a beta of 1.61. The company’s 50-day simple moving average is $3.05 and its 200-day simple moving average is $3.61.

Arcadium Lithium (NYSE:ALTM) last released its earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $254.50 million during the quarter, compared to the consensus estimate of $253.63 million.

Analyst Ratings Changes

ALTM has been the topic of several recent research reports. UBS Group upgraded Arcadium Lithium to a “hold” rating in a research report on Tuesday, September 3rd. Macquarie lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Hsbc Global Res raised shares of Arcadium Lithium to a “hold” rating in a report on Thursday, October 10th. KeyCorp cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, TD Cowen downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.00.

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.