Short Interest in Arcadium Lithium plc (NYSE:ALTM) Declines By 8.8%

Arcadium Lithium plc (NYSE:ALTM) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 45,500,000 shares, a drop of 8.8% from the November 15th total of 49,900,000 shares. Based on an average daily volume of 22,630,000 shares, the short-interest ratio is currently 2.0 days. Currently, 4.4% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of brokerages recently commented on ALTM. Macquarie downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 15th. TD Cowen cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Hsbc Global Res upgraded shares of Arcadium Lithium to a “hold” rating in a report on Thursday, October 10th. Piper Sandler raised Arcadium Lithium from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Raymond James lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Arcadium Lithium currently has an average rating of “Hold” and a consensus price target of $11.00.

Arcadium Lithium Price Performance

NYSE ALTM traded down $0.03 during trading hours on Tuesday, reaching $5.06. 11,567,032 shares of the company’s stock traded hands, compared to its average volume of 15,030,735. The firm has a 50-day simple moving average of $5.31 and a 200 day simple moving average of $3.88. Arcadium Lithium has a 52-week low of $2.19 and a 52-week high of $18.77. The firm has a market cap of $5.44 billion, a PE ratio of 18.74 and a beta of 1.44.

Arcadium Lithium (NYSE:ALTM) last posted its earnings results on Thursday, November 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). The business had revenue of $203.10 million for 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.