Arcadium Lithium (NYSE:ALTM) Sets New 1-Year High – Still a Buy?

Arcadium Lithium plc (NYSE:ALTM) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $5.76 and last traded at $5.76, with a volume of 8268672 shares changing hands. The stock had previously closed at $5.72.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ALTM shares. Raymond James downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. B. Riley downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Macquarie lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 15th. Argus downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, TD Cowen downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Ten equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Arcadium Lithium presently has an average rating of “Hold” and an average target price of $11.00.

Arcadium Lithium Trading Up 0.6 %

The firm’s fifty day moving average price is $5.33 and its 200-day moving average price is $4.27. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 21.31 and a beta of 1.43.

Arcadium Lithium (NYSE:ALTM) last posted its earnings results on Thursday, November 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm 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.