Arcadium Lithium PLC (NYSE:ALTM) price on current trading day, fall -2.60% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.81.
A look at the stock’s price movement, the level at last check in today’s session was $2.88, moving within a range at $2.77 and $2.8199. The beta value (5-Year monthly) was 1.619. Turning to its 52-week performance, $7.27 and $2.19 were the 52-week high and 52-week low respectively. Overall, ALTM moved 14.49% over the past month.
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Arcadium Lithium PLC’s market cap currently stands at around $3.02 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Aug-06.
Analysts have a consensus estimate of 270.15M for the company’s revenue for the quarter, with a low and high estimate of 244M and 288.19M respectively. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.07B, representing a 21.20% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ALTM is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 1 recommend ALTM as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ALTM’s current price about 9.96% and 3.66% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 57.50, while 7-day volatility ratio is 4.76% and 4.97% in the 30-day chart. Further, Arcadium Lithium PLC (ALTM) has a beta value of 0, and an average true range (ATR) of 0.15. Analysts have given the company’s stock an average 52-week price target of $3.75, forecast between a low of $3 and high of $9. Looking at the price targets, the low is -6.76% off recent price level in today’s trading while to achieve the yearly target high, it has to move -220.28%. Nonetheless, investors will most likely welcome a -33.45% jump to $3.75 which is the analysts’ median price.
If we refocus on Arcadium Lithium PLC (NYSE:ALTM), historical trading data shows that trading volumes averaged 11.73 over the past 10 days and 10.53 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.07 billion shares.
The 3.88% of Arcadium Lithium PLC’s shares are in the hands of company insiders while institutional holders own 59.79% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 74.87 million on 2024-09-13, giving us a short ratio of 7.1. The data shows that as of 2024-09-13 short interest in Arcadium Lithium PLC (ALTM) stood at 782.9999999999999 of shares outstanding, with shares short rising to 71.89 million registered in 2024-08-15. Current price change has pushed the stock -58.81% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ALTM stock continues to rise going into the next quarter.
