Arcadium Lithium plc (NYSE:ALTM) Sees Significant Decline in Short Interest

Arcadium Lithium plc (NYSE:ALTM - Get Free Report) saw a large decrease in short interest in October. As of October 15th, there was short interest totalling 75,870,000 shares, a decrease of 6.8% from the September 30th total of 81,370,000 shares. Based on an average trading volume of 22,410,000 shares, the short-interest ratio is currently 3.4 days. Currently, 7.4% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

ALTM has been the subject of several recent analyst reports. TD Cowen downgraded Arcadium Lithium from a "strong-buy" rating to a "hold" rating in a report on Monday, October 14th. KeyCorp lowered shares of Arcadium Lithium from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 10th. Piper Sandler raised shares of Arcadium Lithium from a "strong sell" rating to a "hold" rating in a research report on Wednesday, October 16th. Scotiabank raised shares of Arcadium Lithium from a "hold" rating to a "strong-buy" rating in a report on Monday, October 7th. Finally, Macquarie downgraded shares of Arcadium Lithium from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 15th. Seven investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $11.00.

Arcadium Lithium Trading Up 0.8 %

ALTM traded up $0.04 during trading on Thursday, hitting $5.40. The company's stock had a trading volume of 12,955,452 shares, compared to its average volume of 15,701,111. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 7.88 and a beta of 1.61. Arcadium Lithium has a twelve month low of $2.19 and a twelve month high of $18.77. The business's fifty day simple moving average is $3.60 and its 200 day simple moving average is $3.69.

Arcadium Lithium (NYSE:ALTM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $254.50 million for the quarter, compared to analysts' expectations of $253.63 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.