Arcadium Lithium (NYSE:ALTM) Stock Price Up 0.1% – Time to Buy?

Arcadium Lithium plc (NYSE:ALTM)’s share price rose 0.1% during mid-day trading on Tuesday . The stock traded as high as $5.85 and last traded at $5.85. Approximately 93,149,574 shares changed hands during mid-day trading, an increase of 494% from the average daily volume of 15,690,026 shares. The stock had previously closed at $5.84.

Wall Street Analysts Forecast Growth

Separately, Argus downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating, According to MarketBeat.com, Arcadium Lithium currently has an average rating of “Hold” and an average target price of $11.00.

Arcadium Lithium Stock Performance

The firm has a market capitalization of $6.29 billion, a PE ratio of 73.06 and a beta of 1.48. The business’s fifty day simple moving average is $5.81 and its 200-day simple moving average is $5.22.

Arcadium Lithium (NYSE:ALTM) last posted its earnings results on Thursday, February 27th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $289.00 million for the quarter, compared to the consensus estimate of $250.96 million.

Insider Buying and Selling

In other news, CEO Paul W. Graves sold 234,038 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,332,430 shares in the company, valued at approximately $7,754,742.60. This represents a 14.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arcadium Lithium

A number of large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Arcadium Lithium by 31.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 65,364 shares of the company’s stock worth $335,000 after purchasing an additional 15,520 shares during the last quarter. Comprehensive Money Management Services LLC bought a new stake in Arcadium Lithium during the 4th quarter valued at $82,000. Finally, CIBRA Capital Ltd purchased a new stake in Arcadium Lithium in the fourth quarter worth about $4,235,000. 27.00% of the stock is owned by hedge funds and other institutional investors.

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.