Arcadium Lithium (NYSE:ALTM) Shares Up 0.1% – What’s Next?

Shares of Arcadium Lithium plc (NYSE:ALTM) rose 0.1% on Tuesday . The company traded as high as $5.85 and last traded at $5.85. Approximately 93,149,574 shares changed hands during trading, an increase of 494% from the average daily volume of 15,690,026 shares. The stock had previously closed at $5.84.

Analyst Ratings Changes

Separately, Argus downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.00.

Arcadium Lithium Price Performance

The business’s fifty day simple moving average is $5.81 and its two-hundred day simple moving average is $5.22. The company has a market cap of $6.29 billion, a PE ratio of 73.06 and a beta of 1.48.

Arcadium Lithium (NYSE:ALTM) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $289.00 million during the quarter, compared to the consensus estimate of $250.96 million.

Insider Transactions at Arcadium Lithium

In related news, CEO Paul W. Graves sold 234,038 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were 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 owns 1,332,430 shares of the company’s stock, valued at approximately $7,754,742.60. This trade represents a 14.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Arcadium Lithium

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CIBRA Capital Ltd purchased a new stake in shares of Arcadium Lithium during the fourth quarter worth approximately $4,235,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Arcadium Lithium by 31.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 65,364 shares of the company’s stock valued at $335,000 after purchasing an additional 15,520 shares in the last quarter. Finally, Comprehensive Money Management Services LLC purchased a new stake in shares of Arcadium Lithium during the 4th quarter worth $82,000. Hedge funds and other institutional investors own 27.00% of the company’s stock.

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.