Arcadium Lithium (NYSE:ALTM) Shares Gap Up – Time to Buy?

Shares of Arcadium Lithium plc (NYSE:ALTM) gapped up before the market opened on Wednesday . The stock had previously closed at $5.27, but opened at $5.72. Arcadium Lithium shares last traded at $5.73, with a volume of 38,807,854 shares trading hands.

Wall Street Analyst Weigh In

ALTM has been the subject of several research reports. Macquarie cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 15th. B. Riley downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Argus cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research 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. Finally, Scotiabank lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Arcadium Lithium has an average rating of “Hold” and a consensus target price of $11.00.

Arcadium Lithium Trading Down 0.5 %

The firm has a market cap of $6.10 billion, a P/E ratio of 21.00 and a beta of 1.43. The firm’s 50 day moving average is $5.22 and its two-hundred day moving average is $4.05.

Arcadium Lithium (NYSE:ALTM) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm had revenue of $203.10 million during the quarter, compared to analyst estimates 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.