Arcadium Lithium (NYSE:ALTM) Trading Down 4.6% – Here’s Why

Arcadium Lithium plc (NYSE:ALTM) shares traded down 4.6% during mid-day trading on Monday . The stock traded as low as $4.97 and last traded at $5.01. 5,245,320 shares were traded during mid-day trading, a decline of 65% from the average session volume of 15,193,520 shares. The stock had previously closed at $5.25.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALTM. UBS Group upgraded Arcadium Lithium to a “hold” rating in a research report on Tuesday, September 3rd. KeyCorp downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Scotiabank downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Hsbc Global Res raised shares of Arcadium Lithium to a “hold” rating in a report on Thursday, October 10th. Finally, TD Cowen lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.00.

Arcadium Lithium Price Performance

The firm’s 50-day moving average price is $4.82 and its 200 day moving average price is $3.84. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 18.56 and a beta of 1.48.

Arcadium Lithium (NYSE:ALTM) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.01 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.

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.