Arcadium Lithium (NYSE:ALTM) Shares Gap Up – Still a Buy?

Arcadium Lithium plc (NYSE:ALTM) gapped up prior to trading on Wednesday . The stock had previously closed at $5.27, but opened at $5.72. Arcadium Lithium shares last traded at $5.73, with a volume of 38,807,854 shares changing hands.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Scotiabank cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Argus downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. Macquarie downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 15th. KeyCorp cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, B. Riley downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Ten research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Arcadium Lithium Price Performance

The stock has a market cap of $6.15 billion, a P/E ratio of 21.19 and a beta of 1.43. The stock has a 50-day simple moving average of $5.21 and a 200-day simple moving average of $4.03.

Arcadium Lithium (NYSE:ALTM) last issued its 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 business had revenue of $203.10 million for 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.