Arcadium Lithium (NYSE:ALTM) Reaches New 52-Week High – Here’s What Happened

Shares of Arcadium Lithium plc (NYSE:ALTM) reached a new 52-week high during trading on Wednesday . The company traded as high as $5.76 and last traded at $5.76, with a volume of 8268672 shares. The stock had previously closed at $5.72.

Wall Street Analyst Weigh In

A number of research firms have commented on ALTM. Raymond James cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Macquarie cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 15th. TD Cowen cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Hsbc Global Res raised shares of Arcadium Lithium to a “hold” rating in a research note on Thursday, October 10th. Finally, Scotiabank cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.

Arcadium Lithium Stock Performance

The company has a market cap of $6.16 billion, a PE ratio of 21.20 and a beta of 1.43. The stock’s 50 day moving average price is $5.35 and its 200-day moving average price is $4.29.

Arcadium Lithium (NYSE:ALTM) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The firm had revenue of $203.10 million for the quarter, compared to the consensus estimate of $263.14 million.

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.