Arcadium Lithium (NYSE:ALTM) Stock Price Up 30.9% – Time to Buy?

Arcadium Lithium plc (NYSE:ALTM)’s share price rose 30.9% during trading on Wednesday . The stock traded as high as $5.56 and last traded at $5.55. Approximately 215,656,922 shares changed hands during mid-day trading, an increase of 1,461% from the average daily volume of 13,814,602 shares. The stock had previously closed at $4.24.

Wall Street Analyst Weigh In

ALTM has been the topic of a number of analyst reports. UBS Group raised Arcadium Lithium to a “hold” rating in a research note on Tuesday, September 3rd. Scotiabank raised Arcadium Lithium from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Royal Bank of Canada raised Arcadium Lithium to a “moderate buy” rating in a research note on Tuesday, June 25th.

Arcadium Lithium Stock Performance

The company has a 50 day simple moving average of $2.72 and a two-hundred day simple moving average of $3.55. The company has a market cap of $5.97 billion, a PE ratio of 5.32 and a beta of 1.61.

Arcadium Lithium (NYSE:ALTM) last released its earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $254.50 million for the quarter, compared to analysts’ expectations of $253.63 million.

About Arcadium Lithium

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.