Shares of Livent Corporation (NASDAQ:LTHM) gapped up prior to trading on Wednesday . The stock had previously closed at $6.51, but opened at $6.84. Livent shares last traded at $7.04, with a volume of 2,514,400 shares trading hands.
Several equities analysts have recently commented on the stock. Bank of America downgraded shares of Livent from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $10.00 to $7.00 in a research note on Monday, August 12th. Argus cut Livent from a “buy” rating to a “hold” rating and set a $7.58 target price on the stock. in a research note on Thursday, May 16th. Nomura set a $9.00 price target on Livent and gave the company a “hold” rating in a report on Wednesday, August 7th. Zacks Investment Research lowered Livent from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Finally, Citigroup set a $8.00 target price on Livent and gave the company a “hold” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $15.11.
The stock’s 50 day moving average is $6.46 and its 200-day moving average is $8.80.
Livent (NASDAQ:LTHM) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $114.00 million for the quarter, compared to the consensus estimate of $108.85 million. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LTHM. River & Mercantile Asset Management LLP bought a new stake in shares of Livent during the second quarter valued at approximately $650,000. Luminus Management LLC raised its holdings in Livent by 8.1% in the second quarter. Luminus Management LLC now owns 6,005,871 shares of the company’s stock worth $41,561,000 after purchasing an additional 448,236 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in Livent by 167.6% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,310 shares of the company’s stock valued at $140,000 after buying an additional 12,721 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in Livent by 457.2% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 362,123 shares of the company’s stock valued at $10,620,000 after buying an additional 297,137 shares during the period. Finally, Voloridge Investment Management LLC bought a new stake in shares of Livent during the 2nd quarter valued at $1,382,000.
Livent Company Profile (NASDAQ:LTHM)
Livent Corporation manufactures and sells performance lithium compounds that are used primarily in energy storage, specialty polymers, and chemical synthesis application. The company offers lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in high performance lithium-ion batteries; and supplies butyllithium, which is used as a synthesizer in the production of polymers and pharmaceutical products, as well as a range of specialty lithium compounds, including high purity lithium metal, which is used in the production of lightweight materials for aerospace applications and non-rechargeable batteries.
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