Livent Corporation (NASDAQ:LTHM) shot up 6.4% on Monday . The company traded as high as $6.80 and last traded at $6.77, 1,990,240 shares changed hands during mid-day trading. A decline of 23% from the average session volume of 2,569,995 shares. The stock had previously closed at $6.36.
LTHM has been the subject of several recent research reports. Zacks Investment Research lowered shares of Livent from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Bank of America cut shares of Livent from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $10.00 to $7.00 in a research note on Monday, August 12th. Citigroup set a $8.00 price objective on Livent and gave the company a “hold” rating in a report on Monday, August 12th. Argus lowered Livent from a “buy” rating to a “hold” rating and set a $7.58 price objective on the stock. in a research note on Thursday, May 16th. Finally, Nomura set a $9.00 target price on Livent and gave the stock a “hold” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.11.
The firm’s fifty day moving average is $6.46 and its 200-day moving average is $8.80.
Livent (NASDAQ:LTHM) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.12. The firm had revenue of $114.00 million during the quarter, compared to analyst estimates of $108.85 million. The business’s revenue was up 5.7% compared to the same quarter last year.
Several large investors have recently bought and sold shares of LTHM. First Mercantile Trust Co. acquired a new position in shares of Livent in the 1st quarter worth approximately $33,000. Synovus Financial Corp acquired a new position in Livent in the first quarter worth $39,000. Shell Asset Management Co. acquired a new position in Livent in the first quarter worth $40,000. Point72 Hong Kong Ltd acquired a new position in Livent in the second quarter worth $28,000. Finally, Marshall Wace LLP bought a new stake in shares of Livent during the first quarter worth $52,000.
About Livent (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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