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

Arcadium Lithium plc (NYSE:ALTM) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 75,870,000 shares, a decline of 6.8% from the September 30th total of 81,370,000 shares. Based on an average trading volume of 22,410,000 shares, the days-to-cover ratio is presently 3.4 days. Currently, 7.4% of the company’s stock are sold short.

Arcadium Lithium Price Performance

ALTM stock opened at $5.43 on Friday. The stock has a market capitalization of $5.84 billion, a P/E ratio of 7.99 and a beta of 1.61. Arcadium Lithium has a 1-year low of $2.19 and a 1-year high of $18.77. The business has a fifty day moving average price of $3.71 and a 200-day moving average price of $3.71.

Arcadium Lithium (NYSE:ALTM) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $254.50 million for the quarter, compared to analysts’ expectations of $253.63 million.

Analyst Upgrades and Downgrades

ALTM has been the topic of a number of research analyst reports. Raymond James downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Macquarie cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Piper Sandler raised shares of Arcadium Lithium from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 16th. KeyCorp lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, UBS Group upgraded Arcadium Lithium to a “hold” rating in a research report on Tuesday, September 3rd. Seven analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Arcadium Lithium presently has a consensus rating of “Hold” and an average target price of $11.00.

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.