Arcadium Lithium plc (NYSE:ALTM) Sees Significant Decline in Short Interest

Arcadium Lithium plc (NYSE:ALTM) saw a large drop in short interest in 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 shares of the stock are short sold. Based on an average trading volume of 22,410,000 shares, the days-to-cover ratio is currently 3.4 days.

Arcadium Lithium Trading Down 1.3 %

Shares of ALTM opened at $5.36 on Thursday. The company has a market capitalization of $5.76 billion, a PE ratio of 7.88 and a beta of 1.61. Arcadium Lithium has a 12 month low of $2.19 and a 12 month high of $18.77. The stock’s 50-day moving average price is $3.60 and its two-hundred day moving average price is $3.69.

Arcadium Lithium (NYSE:ALTM) last announced its earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $254.50 million for the quarter, compared to analyst estimates of $253.63 million.

Analyst Ratings Changes

ALTM has been the topic of several recent research reports. UBS Group raised Arcadium Lithium to a “hold” rating in a report on Tuesday, September 3rd. Raymond James downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Scotiabank raised Arcadium Lithium from a “hold” rating to a “strong-buy” rating in a report on Monday, October 7th. Piper Sandler raised Arcadium Lithium from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Hsbc Global Res raised Arcadium Lithium to a “hold” rating in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.00.

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.