Arcadium Lithium (NYSE:ALTM) Shares Down 4.6% – Here’s What Happened

Arcadium Lithium plc (NYSE:ALTM) fell 4.6% on Monday . The company traded as low as $4.97 and last traded at $5.01. 5,245,320 shares traded hands during trading, a decline of 65% from the average session volume of 15,193,520 shares. The stock had previously closed at $5.25.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALTM. Raymond James downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. TD Cowen downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. UBS Group raised Arcadium Lithium to a “hold” rating in a report on Tuesday, September 3rd. KeyCorp downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Scotiabank downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Nine research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Arcadium Lithium Stock Performance

The firm’s 50-day moving average is $4.92 and its two-hundred day moving average is $3.85. The stock has a market cap of $5.50 billion, a P/E ratio of 18.93 and a beta of 1.48.

Arcadium Lithium (NYSE:ALTM) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The company had revenue of $203.10 million for the quarter, compared to analysts’ expectations of $263.14 million.

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.