Arcadium Lithium plc (NYSE:ALTM) Short Interest Update

Arcadium Lithium plc (NYSE:ALTM) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 75,870,000 shares, a decline of 6.8% from the September 30th total of 81,370,000 shares. Based on an average trading volume of 22,410,000 shares, the days-to-cover ratio is presently 3.4 days. Currently, 7.4% of the company’s stock are sold short.

Arcadium Lithium Stock Performance

NYSE:ALTM traded up $0.06 during trading hours on Friday, reaching $5.45. The stock had a trading volume of 2,890,516 shares, compared to its average volume of 15,640,699. The stock has a market cap of $5.86 billion, a P/E ratio of 7.93 and a beta of 1.61. The stock has a 50 day simple moving average of $3.65 and a 200 day simple moving average of $3.70. Arcadium Lithium has a 12-month low of $2.19 and a 12-month high of $18.77.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group raised shares of Arcadium Lithium to a “hold” rating in a research report on Tuesday, September 3rd. Piper Sandler raised shares of Arcadium Lithium from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Hsbc Global Res raised Arcadium Lithium to a “hold” rating in a report on Thursday, October 10th. KeyCorp cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, TD Cowen lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.