Arcadium Lithium (NYSE:ALTM) Sets New 52-Week High – Here’s Why

Arcadium Lithium plc (NYSE:ALTM)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $5.73 and last traded at $5.72, with a volume of 3396973 shares trading hands. The stock had previously closed at $5.71.

Analyst Ratings Changes

A number of analysts have weighed in on ALTM shares. B. Riley cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Scotiabank lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. KeyCorp downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Raymond James cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, TD Cowen lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Ten research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.00.

Arcadium Lithium Trading Up 0.4 %

The stock’s 50-day moving average price is $5.24 and its 200-day moving average price is $4.12. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 21.22 and a beta of 1.43.

Arcadium Lithium (NYSE:ALTM) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.01 EPS 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 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.