Arcadium Lithium (NYSE:ALTM) Downgraded by Scotiabank to Hold

Scotiabank downgraded shares of Arcadium Lithium (NYSE:ALTM) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. Raymond James downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Macquarie downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 15th. TD Cowen downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. 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 upgraded Arcadium Lithium to a “hold” rating in a research report on Thursday, October 10th. Eight research 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 price target of $11.00.

Arcadium Lithium Price Performance

Shares of ALTM opened at $5.37 on Monday. The company has a market cap of $5.77 billion, a PE ratio of 19.87 and a beta of 1.48. The business has a fifty day moving average of $4.03 and a 200 day moving average of $3.78. Arcadium Lithium has a 52-week low of $2.19 and a 52-week high of $18.77.

Arcadium Lithium (NYSE:ALTM) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm had revenue of $203.10 million during the quarter, compared to analysts’ expectations 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.