Arcadium Lithium plc (NYSE:ALTM) Short Interest Up 29.4% in February

Arcadium Lithium plc (NYSE:ALTM) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 58,410,000 shares, an increase of 29.4% from the January 31st total of 45,140,000 shares. Currently, 5.7% of the shares of the company are sold short. Based on an average daily volume of 15,130,000 shares, the days-to-cover ratio is presently 3.9 days.

Arcadium Lithium Price Performance

Shares of NYSE:ALTM traded up $0.01 during trading on Thursday, reaching $5.85. The stock had a trading volume of 93,149,574 shares, compared to its average volume of 20,077,770. The stock has a market capitalization of $6.29 billion, a PE ratio of 73.06 and a beta of 1.45. Arcadium Lithium has a 52 week low of $2.19 and a 52 week high of $5.87. The business’s 50-day moving average price is $5.66 and its 200 day moving average price is $4.75.

Arcadium Lithium (NYSE:ALTM) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The business had revenue of $289.00 million during the quarter, compared to the consensus estimate of $250.96 million.

Insider Activity at Arcadium Lithium

In other Arcadium Lithium news, CEO Paul W. Graves sold 234,038 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 14.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Arcadium Lithium

An institutional investor recently bought a new position in Arcadium Lithium stock. Comprehensive Money Management Services LLC purchased a new stake in shares of Arcadium Lithium plc (NYSE:ALTM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,050 shares of the company’s stock, valued at approximately $82,000. Hedge funds and other institutional investors own 27.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. B. Riley downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Scotiabank lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Argus cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average 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.