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

Arcadium Lithium plc (NYSE:ALTM) was the target 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 company’s stock are sold short. Based on an average daily trading volume, of 15,130,000 shares, the days-to-cover ratio is currently 3.9 days.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Argus cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. B. Riley downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Scotiabank lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Arcadium Lithium has an average rating of “Hold” and a consensus target price of $11.00.

Arcadium Lithium Stock Up 0.1 %

Arcadium Lithium stock traded up $0.01 during trading hours on Wednesday, hitting $5.85. The stock had a trading volume of 93,149,574 shares, compared to its average volume of 20,077,770. Arcadium Lithium has a fifty-two week low of $2.19 and a fifty-two week high of $5.87. The company has a market cap of $6.29 billion, a PE ratio of 73.06 and a beta of 1.45. The company has a 50-day moving average of $5.65 and a two-hundred day moving average of $4.75.

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

Insider Activity

In other Arcadium Lithium news, CEO Paul W. Graves sold 234,038 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $5.82, for a total transaction of $1,362,101.16. Following the transaction, the chief executive officer now directly owns 1,332,430 shares of the company’s stock, valued at $7,754,742.60. This represents a 14.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcadium Lithium

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

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.