Arcadium Lithium plc (NYSE:ALTM) Sees Large Growth in Short Interest

Arcadium Lithium plc (NYSE:ALTM) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 58,410,000 shares, an increase of 29.4% from the January 31st total of 45,140,000 shares. Approximately 5.7% of the shares of the company are short sold. Based on an average daily volume of 15,130,000 shares, the days-to-cover ratio is currently 3.9 days.

Insider Activity at Arcadium Lithium

In related news, CEO Paul W. Graves sold 234,038 shares of the firm’s 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 transaction, the chief executive officer now owns 1,332,430 shares in the company, valued at $7,754,742.60. This trade represents a 14.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Arcadium Lithium

An institutional investor recently bought a new position in Arcadium Lithium stock. Comprehensive Money Management Services LLC bought a new stake in shares of Arcadium Lithium plc (NYSE:ALTM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 16,050 shares of the company’s stock, valued at approximately $82,000. Hedge funds and other institutional investors own 27.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

Arcadium Lithium Trading Up 0.1 %

Shares of Arcadium Lithium stock traded up $0.01 on Tuesday, reaching $5.85. 23,235,412 shares of the company were exchanged, compared to its average volume of 18,293,609. Arcadium Lithium has a fifty-two week low of $2.19 and a fifty-two week high of $5.87. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 73.06 and a beta of 1.45. The stock has a fifty day moving average price of $5.65 and a 200-day moving average price of $4.75.

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 business had revenue of $289.00 million during the quarter, compared to analysts’ expectations of $250.96 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.