Short Interest in Arcadium Lithium plc (NYSE:ALTM) Grows By 9.3%

Arcadium Lithium plc (NYSE:ALTM) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 45,090,000 shares, an increase of 9.3% from the December 31st total of 41,240,000 shares. Based on an average daily trading volume, of 23,370,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 4.4% of the shares of the stock are short sold.

Analyst Ratings Changes

Several brokerages recently commented on ALTM. TD Cowen lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Argus cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Scotiabank downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Piper Sandler raised Arcadium Lithium from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Raymond James lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.00.

Arcadium Lithium Stock Down 0.4 %

NYSE:ALTM traded down $0.03 on Monday, hitting $5.72. The stock had a trading volume of 18,685,737 shares, compared to its average volume of 18,845,555. The company has a fifty day moving average price of $5.35 and a two-hundred day moving average price of $4.31. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 21.17 and a beta of 1.43. Arcadium Lithium has a 1-year low of $2.19 and a 1-year high of $5.76.

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