Arcadium Lithium plc (NYSE:ALTM) Short Interest Down 6.8% in October

Arcadium Lithium plc (NYSE:ALTMGet Free Report) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 75,870,000 shares, a drop of 6.8% from the September 30th total of 81,370,000 shares. Approximately 7.4% of the company’s shares are short sold. Based on an average daily volume of 22,410,000 shares, the short-interest ratio is currently 3.4 days.

Arcadium Lithium Trading Up 0.7 %

Shares of ALTM opened at $5.43 on Friday. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 7.99 and a beta of 1.61. The firm has a fifty day simple moving average of $3.71 and a 200 day simple moving average of $3.71. Arcadium Lithium has a 12 month low of $2.19 and a 12 month high of $18.77.

Arcadium Lithium (NYSE:ALTMGet Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $254.50 million during the quarter, compared to the consensus estimate of $253.63 million.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALTM. TD Cowen lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Raymond James lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. KeyCorp lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. UBS Group raised shares of Arcadium Lithium to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Piper Sandler raised shares of Arcadium Lithium from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.00.

Get Our Latest Analysis on Arcadium Lithium

Arcadium Lithium Company Profile

(Get Free Report)

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.

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