New York State Common Retirement Fund bought a new position in shares of Livent Corporation (NASDAQ:LTHM) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 164,038 shares of the company’s stock, valued at approximately $2,014,000.
A number of other institutional investors and hedge funds have also made changes to their positions in LTHM. Athena Capital Advisors LLC acquired a new position in Livent during the fourth quarter worth $28,000. PNC Financial Services Group Inc. acquired a new position in Livent during the fourth quarter worth $31,000. Exane Derivatives acquired a new position in Livent during the first quarter worth $32,000. Glassman Wealth Services acquired a new position in Livent during the fourth quarter worth $33,000. Finally, First Mercantile Trust Co. acquired a new position in Livent during the first quarter worth $33,000.
Several research analysts recently commented on LTHM shares. Argus cut shares of Livent from a “buy” rating to a “hold” rating and set a $7.58 target price for the company. in a report on Thursday, May 16th. Credit Suisse Group set a $18.00 price target on shares of Livent and gave the stock a “buy” rating in a research report on Thursday, February 14th. Gabelli initiated coverage on shares of Livent in a research report on Wednesday, February 27th. They set a “buy” rating and a $21.00 price target on the stock. Zacks Investment Research lowered shares of Livent from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 16th. Finally, Bank of America set a $16.00 price target on shares of Livent and gave the stock a “buy” rating in a research report on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Livent has a consensus rating of “Hold” and a consensus target price of $16.47.
NASDAQ LTHM opened at $7.25 on Friday. Livent Corporation has a 1 year low of $6.22 and a 1 year high of $19.90.
Livent (NASDAQ:LTHM) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.01). The business had revenue of $98.30 million for the quarter, compared to analysts’ expectations of $105.43 million. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year.
Livent Company Profile
Livent Corporation manufactures and sells performance lithium compounds that are used primarily in energy storage, specialty polymers, and chemical synthesis application. The company offers lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in high performance lithium-ion batteries; and supplies butyllithium, which is used as a synthesizer in the production of polymers and pharmaceutical products, as well as a range of specialty lithium compounds, including high purity lithium metal, which is used in the production of lightweight materials for aerospace applications and non-rechargeable batteries.
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