Arcadium Lithium (NYSE:ALTM) Shares Gap Up – What’s Next?

Arcadium Lithium plc (NYSE:ALTM)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $5.27, but opened at $5.72. Arcadium Lithium shares last traded at $5.73, with a volume of 38,807,854 shares.

Analyst Ratings Changes

Several brokerages recently issued reports on ALTM. Raymond James downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Piper Sandler raised Arcadium Lithium from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 16th. B. Riley lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Argus downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Macquarie downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 15th. Ten equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Arcadium Lithium currently has an average rating of “Hold” and an average price target of $11.00.

Arcadium Lithium Trading Down 0.5 %

The stock’s 50-day simple moving average is $5.22 and its 200-day simple moving average is $4.05. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 21.00 and a beta of 1.43.

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

About Arcadium Lithium

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.