Livent Corporation (NYSE:LTHM)’s stock price rose 6.8% during mid-day trading on Thursday . The company traded as high as $8.31 and last traded at $8.14, approximately 3,382,627 shares traded hands during mid-day trading. An increase of 37% from the average daily volume of 2,469,995 shares. The stock had previously closed at $7.62.
LTHM has been the subject of a number of analyst reports. Citigroup decreased their price target on Livent from $8.25 to $7.50 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Seaport Global Securities restated a “buy” rating on shares of Livent in a research report on Tuesday. Bank of America cut Livent from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $10.00 to $7.00 in a research report on Monday, August 12th. ValuEngine upgraded Livent from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Nomura set a $9.00 price objective on Livent and gave the company a “hold” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.73.
The firm has a market capitalization of $1.19 billion and a PE ratio of 8.89. The stock has a 50-day moving average price of $6.99 and a 200 day moving average price of $7.22. The company has a quick ratio of 2.11, a current ratio of 2.85 and a debt-to-equity ratio of 0.14.
Livent (NYSE:LTHM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02). The business had revenue of $97.70 million during the quarter, compared to analysts’ expectations of $112.75 million. Livent had a net margin of 17.75% and a return on equity of 17.27%. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share. As a group, equities analysts predict that Livent Corporation will post 0.58 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of LTHM. Point72 Hong Kong Ltd purchased a new stake in shares of Livent during the second quarter worth approximately $28,000. Marshall Wace LLP purchased a new stake in shares of Livent during the first quarter worth approximately $52,000. Coastal Investment Advisors Inc. increased its position in shares of Livent by 126.7% during the second quarter. Coastal Investment Advisors Inc. now owns 5,123 shares of the company’s stock worth $35,000 after purchasing an additional 2,863 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Livent by 275.0% during the third quarter. Daiwa Securities Group Inc. now owns 7,500 shares of the company’s stock worth $50,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Livent during the second quarter worth approximately $59,000. Institutional investors and hedge funds own 96.74% of the company’s stock.
About Livent (NYSE:LTHM)
Livent Corporation manufactures and sells performance lithium compounds that are used primarily in energy storage, specialty polymers, and chemical synthesis application. The company offers lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in high performance lithium-ion batteries; and supplies butyllithium, which is used as a synthesizer in the production of polymers and pharmaceutical products, as well as a range of specialty lithium compounds, including high purity lithium metal, which is used in the production of lightweight materials for aerospace applications and non-rechargeable batteries.
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