Arcadium Lithium (NYSE:ALTM) Reaches New 12-Month High – Here’s What Happened

Arcadium Lithium plc (NYSE:ALTM) hit a new 52-week high during trading on Tuesday . The company traded as high as $5.76 and last traded at $5.75, with a volume of 6998193 shares trading hands. The stock had previously closed at $5.71.

Wall Street Analyst Weigh In

ALTM has been the topic of a number of recent research reports. Hsbc Global Res raised Arcadium Lithium to a “hold” rating in a research report on Thursday, October 10th. TD Cowen cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. KeyCorp cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. B. Riley cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Macquarie cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 15th. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $11.00.

Arcadium Lithium Trading Up 0.6 %

The firm has a fifty day simple moving average of $5.36 and a two-hundred day simple moving average of $4.33. The stock has a market cap of $6.18 billion, a PE ratio of 21.28 and a beta of 1.43.

Arcadium Lithium (NYSE:ALTM) last released its quarterly 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.