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

Arcadium Lithium plc (NYSE:ALTM) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 45,500,000 shares, a decline of 8.8% from the November 15th total of 49,900,000 shares. Currently, 4.4% of the company’s shares are sold short. Based on an average daily trading volume, of 22,630,000 shares, the days-to-cover ratio is currently 2.0 days.

Wall Street Analyst Weigh In

ALTM has been the topic of a number of research analyst reports. Argus lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. TD Cowen lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. KeyCorp downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. B. Riley downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Macquarie lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Arcadium Lithium currently has a consensus rating of “Hold” and a consensus target price of $11.00.

Arcadium Lithium Stock Down 0.6 %

Shares of NYSE ALTM traded down $0.03 on Tuesday, hitting $5.06. The company had a trading volume of 11,567,032 shares, compared to its average volume of 15,030,735. Arcadium Lithium has a 12-month low of $2.19 and a 12-month high of $18.77. The firm has a market capitalization of $5.44 billion, a P/E ratio of 18.74 and a beta of 1.44. The business has a 50 day moving average of $5.31 and a two-hundred day moving average of $3.88.

Arcadium Lithium (NYSE:ALTM) last released its quarterly 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 during 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.