Arcadium Lithium (NYSE:ALTM) Shares Gap Up – Should You Buy?

Arcadium Lithium plc (NYSE:ALTM)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $5.27, but opened at $5.72. Arcadium Lithium shares last traded at $5.73, with a volume of 38,807,854 shares changing hands.

Wall Street Analyst Weigh In

ALTM has been the topic of a number of research analyst reports. Raymond James lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Argus lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. Scotiabank cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Macquarie downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Finally, KeyCorp downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Arcadium Lithium currently has a consensus rating of “Hold” and an average target price of $11.00.

Arcadium Lithium Stock Performance

The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 21.19 and a beta of 1.43. The business’s 50-day moving average is $5.21 and its two-hundred day moving average is $4.03.

Arcadium Lithium (NYSE:ALTM) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The company had revenue of $203.10 million for 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.