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

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

Arcadium Lithium Price Performance

ALTM stock traded up $0.01 during trading on Friday, hitting $5.84. The stock had a trading volume of 14,457,086 shares, compared to its average volume of 18,030,252. Arcadium Lithium has a twelve month low of $2.19 and a twelve month high of $5.87. The stock has a market capitalization of $6.28 billion, a P/E ratio of 21.61 and a beta of 1.45. The company’s 50-day moving average price is $5.62 and its two-hundred day moving average price is $4.67.

Insider Buying and Selling

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 shares were sold at an average price of $5.82, for a total value 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 trade represents a 14.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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