Arcadium Lithium (NYSE:ALTM) Shares Gap Up – Should You Buy?

Arcadium Lithium plc (NYSE:ALTM) shares gapped up prior to trading on Tuesday . The stock had previously closed at $4.97, but opened at $5.17. Arcadium Lithium shares last traded at $5.20, with a volume of 2,756,164 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Piper Sandler upgraded shares of Arcadium Lithium from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group raised Arcadium Lithium to a “hold” rating in a report on Tuesday, September 3rd. Scotiabank downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Argus downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, TD Cowen lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Arcadium Lithium Stock Up 5.8 %

The business’s fifty day moving average is $5.27 and its 200-day moving average is $3.91. The stock has a market capitalization of $5.66 billion, a PE ratio of 19.48 and a beta of 1.44.

Arcadium Lithium (NYSE:ALTM) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates 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.