Arcadium Lithium (NYSE:ALTM) Stock Price Up 30.9% – Time to Buy?

Shares of Arcadium Lithium plc (NYSE:ALTM) rose 30.9% during mid-day trading on Wednesday . The company traded as high as $5.56 and last traded at $5.55. Approximately 215,656,922 shares were traded during mid-day trading, an increase of 1,461% from the average daily volume of 13,814,602 shares. The stock had previously closed at $4.24.

Analyst Ratings Changes

ALTM has been the topic of a number of recent research reports. Scotiabank upgraded Arcadium Lithium from a “hold” rating to a “strong-buy” rating in a research note on Monday. Royal Bank of Canada upgraded shares of Arcadium Lithium to a “moderate buy” rating in a research note on Tuesday, June 25th. Finally, UBS Group upgraded shares of Arcadium Lithium to a “hold” rating in a research note on Tuesday, September 3rd.

Arcadium Lithium Stock Up 30.9 %

The business’s 50 day moving average is $2.72 and its two-hundred day moving average is $3.55. The firm has a market capitalization of $5.97 billion, a P/E ratio of 5.32 and a beta of 1.61.

Arcadium Lithium (NYSE:ALTM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $254.50 million during the quarter, compared to the consensus estimate of $253.63 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.