Arcadium Lithium (NYSE:ALTM) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Arcadium Lithium (NYSE:ALTM) released its quarterly earnings results on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03), Zacks reports.

Arcadium Lithium Stock Up 0.1 %

Shares of Arcadium Lithium stock traded up $0.01 on Thursday, hitting $5.84. The stock had a trading volume of 12,851,762 shares, compared to its average volume of 18,123,498. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 21.61 and a beta of 1.45. Arcadium Lithium has a twelve month low of $2.19 and a twelve month high of $5.84. The business’s 50 day moving average is $5.58 and its two-hundred day moving average is $4.64.

Insider Buying and Selling

In related news, CEO Paul W. Graves sold 234,038 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $5.82, for a total transaction of $1,362,101.16. Following the completion of the transaction, the chief executive officer now directly owns 1,332,430 shares of the company’s stock, valued at $7,754,742.60. This trade represents a 14.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Argus downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. B. Riley lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Scotiabank downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.00.

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.