Arcadium Lithium plc (NYSE:ALTM – Get Free Report) 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.
Check Out Our Latest Research Report on ALTM
Arcadium Lithium Stock Performance
Arcadium Lithium (NYSE:ALTM – Get Free Report) 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.
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