Weak Fundamental Momentum Sinks Arcadium Lithium PLC

Arcadium Lithium PLC (NYSE:ALTM) has seen 3.91 million shares traded in the recent trading session. The company, currently valued at $2.72B, closed the recent trade at $2.53 per share which meant it lost -$0.18 on the day or -6.70% during that session. The ALTM stock price is -187.35% off its 52-week high price of $7.27 and 1.19% above the 52-week low of $2.50. If we look at the company’s 10-day average daily trading volume, we find that it stood at 9.44 million shares traded. The 3-month trading volume is 10.97 million shares.

The consensus among analysts is that Arcadium Lithium PLC (ALTM) is Hold stock at the moment, with a recommendation rating of 1.89. 1 analysts rate the stock as a Sell, while 1 rate it as Overweight. 2 out of 5 have rated it as a Hold, with 1 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.04.

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Arcadium Lithium PLC (NYSE:ALTM) trade information

Sporting -6.70% in the red today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the ALTM stock price touched $2.53 or saw a rise of 9.32%. Year-to-date, Arcadium Lithium PLC shares have moved -62.87%, while the 5-day performance has seen it change -8.39%. Over the past 30 days, the shares of Arcadium Lithium PLC (NYSE:ALTM) have changed -11.60%. Short interest in the company has seen 71.89 million shares shorted with days to cover at 6.37.

Wall Street analysts have a consensus price target for the stock at $3.75, which means that the shares’ value could jump 32.53% from the levels at last check today. The projected low price target is $3.0 while the price target rests at a high of $9.0. In that case, then, we find that the latest price level in today’s session is -255.73% off the targeted high while a plunge would see the stock gain -18.58% from the levels at last check today.

Arcadium Lithium PLC (ALTM) estimates and forecasts

Figures show that Arcadium Lithium PLC shares have underperformed across the wider relevant industry. The company’s shares have lost -53.86% over the past 6 months, with this year growth rate of -88.36%, compared to 14.80% for the industry. Revenue growth from the last financial year stood is estimated to be 22.90%.

12 analysts offering their estimates for the company have set an average revenue estimate of 271.7M for the current quarter. 12 have an estimated revenue figure of 286.62M for the next ending quarter.

ALTM Dividends

Arcadium Lithium PLC is expected to release its next earnings report on 2024-Aug-06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Arcadium Lithium PLC (NYSE:ALTM)’s Major holders

Insiders own 0.12% of the company shares, while shares held by institutions stand at 18.45% with a share float percentage of 18.47%. Investors are also buoyed by the number of investors in a company, with Arcadium Lithium PLC having a total of 613.0 institutions that hold shares in the company. The top two institutional holders are BLACKSTONE INC. with over 11.92 million shares worth more than $493.89 million. As of 2024-06-30, BLACKSTONE INC. held 2.2177% of shares outstanding.

The other major institutional holder is MORGAN STANLEY, with the holding of over 4.13 million shares as of 2024-06-30. The firm’s total holdings are worth over $171.33 million and represent 0.7694% of shares outstanding.