Arcadium Lithium plc (NYSE:ALTM) Sees Large Growth in Short Interest

Arcadium Lithium plc (NYSE:ALTM) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 45,090,000 shares, a growth of 9.3% from the December 15th total of 41,240,000 shares. Based on an average daily volume of 23,370,000 shares, the short-interest ratio is currently 1.9 days. Approximately 4.4% of the company’s stock are sold short.

Arcadium Lithium Stock Up 0.4 %

NYSE ALTM traded up $0.03 during midday trading on Monday, hitting $5.73. The company had a trading volume of 9,152,021 shares, compared to its average volume of 23,288,029. The firm has a fifty day simple moving average of $5.26 and a two-hundred day simple moving average of $4.16. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 21.20 and a beta of 1.43. Arcadium Lithium has a fifty-two week low of $2.19 and a fifty-two week high of $5.73.

Arcadium Lithium (NYSE:ALTM) last issued its quarterly 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 company had revenue of $203.10 million during the quarter, compared to analysts’ expectations of $263.14 million.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALTM. Raymond James cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Argus cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. B. Riley lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Hsbc Global Res raised shares of Arcadium Lithium to a “hold” rating in a report on Thursday, October 10th. Finally, Scotiabank downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.00.

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.