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

Arcadium Lithium plc (NYSE:ALTM) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 81,370,000 shares, an increase of 8.7% from the September 15th total of 74,870,000 shares. Currently, 7.9% of the shares of the stock are sold short. Based on an average daily volume of 18,790,000 shares, the short-interest ratio is presently 4.3 days.

Arcadium Lithium Stock Up 0.2 %

ALTM stock traded up $0.01 during midday trading on Thursday, hitting $5.54. The company’s stock had a trading volume of 1,428,327 shares, compared to its average volume of 15,390,711. The firm has a 50-day simple moving average of $3.05 and a 200-day simple moving average of $3.61. The firm has a market capitalization of $5.96 billion, a P/E ratio of 5.33 and a beta of 1.61. Arcadium Lithium has a 52-week low of $2.19 and a 52-week high of $18.77.

Arcadium Lithium (NYSE:ALTM) last released its earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $254.50 million during the quarter, compared to analysts’ expectations of $253.63 million.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Scotiabank upgraded shares of Arcadium Lithium from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 7th. KeyCorp cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. UBS Group raised Arcadium Lithium to a “hold” rating in a research note on Tuesday, September 3rd. TD Cowen lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Raymond James lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Arcadium Lithium presently has a consensus rating of “Hold” and an average price target of $11.00.

Arcadium Lithium Company Profile

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.