Arcadium Lithium (NYSE:ALTM) Hits New 12-Month High – Here’s What Happened

Shares of Arcadium Lithium plc (NYSE:ALTM) hit a new 52-week high during trading on Wednesday . The stock traded as high as $5.73 and last traded at $5.73, with a volume of 11063139 shares changing hands. The stock had previously closed at $5.72.

Wall Street Analyst Weigh In

ALTM has been the subject of several analyst reports. Macquarie lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 15th. Hsbc Global Res raised shares of Arcadium Lithium to a “hold” rating in a research note on Thursday, October 10th. KeyCorp cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Piper Sandler raised Arcadium Lithium from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Argus lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.00.

Arcadium Lithium Stock Up 0.1 %

The stock has a market capitalization of $6.17 billion, a P/E ratio of 21.24 and a beta of 1.43. The firm’s 50 day simple moving average is $5.28 and its two-hundred day simple moving average is $4.20.

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