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

Arcadium Lithium (NYSE:ALTM) released its quarterly earnings results on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03), Zacks reports. The business had revenue of $289.00 million for the quarter, compared to the consensus estimate of $250.96 million.

Arcadium Lithium Stock Up 0.1 %

ALTM stock traded up $0.01 during midday trading on Friday, reaching $5.84. The stock had a trading volume of 6,852,101 shares, compared to its average volume of 17,831,297. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 21.61 and a beta of 1.45. Arcadium Lithium has a twelve month low of $2.19 and a twelve month high of $5.84. The business has a fifty day simple moving average of $5.60 and a two-hundred day simple moving average of $4.65.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALTM shares. Argus cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. B. Riley lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. 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 investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.00.

Insider Buying and Selling at Arcadium Lithium

In related news, CEO Paul W. Graves sold 234,038 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $5.82, for a total value of $1,362,101.16. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.39% of the company’s stock.

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.