Arcadium Lithium (NYSE:ALTM) Shares Gap Up – Still a Buy?

Arcadium Lithium plc (NYSE:ALTM) gapped up prior to trading on Tuesday . The stock had previously closed at $4.97, but opened at $5.17. Arcadium Lithium shares last traded at $5.20, with a volume of 2,756,164 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. B. Riley cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. KeyCorp cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Piper Sandler upgraded shares of Arcadium Lithium from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group raised shares of Arcadium Lithium to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Argus lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.00.

Arcadium Lithium Price Performance

The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 19.26 and a beta of 1.44. The business has a fifty day moving average of $5.29 and a 200 day moving average of $3.90.

Arcadium Lithium (NYSE:ALTM) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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.