Arcadium Lithium plc (NYSE:ALTM) Sees Significant Decline in Short Interest

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

Wall Street Analysts Forecast Growth

ALTM has been the subject of several research reports. Scotiabank raised Arcadium Lithium from a “hold” rating to a “strong-buy” rating in a report on Monday, October 7th. KeyCorp lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. UBS Group upgraded Arcadium Lithium to a “hold” rating in a research note on Tuesday, September 3rd. Raymond James lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Macquarie lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Seven investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $11.00.

Arcadium Lithium Stock Performance

Shares of ALTM opened at $5.36 on Thursday. Arcadium Lithium has a 52-week low of $2.19 and a 52-week high of $18.77. The business’s fifty day moving average is $3.60 and its 200-day moving average is $3.69. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 7.88 and a beta of 1.61.

Arcadium Lithium (NYSE:ALTM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $254.50 million during the quarter, compared to the consensus estimate of $253.63 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.