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

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

Arcadium Lithium Stock Performance

NYSE:ALTM traded up $0.01 during midday trading on Thursday, reaching $5.84. 12,851,762 shares of the stock traded hands, compared to its average volume of 18,123,498. Arcadium Lithium has a 12-month low of $2.19 and a 12-month high of $5.84. The business has a 50-day moving average of $5.58 and a two-hundred day moving average of $4.64. The stock has a market capitalization of $6.28 billion, a PE ratio of 21.61 and a beta of 1.45.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Scotiabank downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. B. Riley cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Argus cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.00.

Insider Activity at Arcadium Lithium

In other Arcadium Lithium news, CEO Paul W. Graves sold 234,038 shares of the company’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 approximately $7,754,742.60. This represents a 14.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

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.