Arcadium Lithium plc (NYSE:ALTM) Short Interest Up 9.3% in June

Arcadium Lithium plc (NYSE:ALTM) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 76,330,000 shares, a growth of 9.3% from the May 31st total of 69,850,000 shares. Approximately 7.1% of the shares of the stock are sold short. Based on an average trading volume of 9,350,000 shares, the days-to-cover ratio is presently 8.2 days.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALTM. Royal Bank of Canada raised shares of Arcadium Lithium to a “moderate buy” rating in a research note on Tuesday, June 25th. KeyCorp dropped their price target on Arcadium Lithium from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th.

Arcadium Lithium Price Performance

NYSE ALTM opened at 3.46 on Thursday. Arcadium Lithium has a 52 week low of 3.10 and a 52 week high of 29.17. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 3.33 and a beta of 1.63. The stock’s fifty day moving average price is 4.15.

Arcadium Lithium (NYSE:ALTM) last released its quarterly earnings results on Tuesday, May 7th. The company reported 0.06 EPS for the quarter, topping analysts’ consensus estimates of 0.03 by 0.03. The firm had revenue of 261.20 million for the quarter, compared to analysts’ expectations of 269.60 million.

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.