The stock price of Arcadium Lithium PLC (NYSE: ALTM) has surged by 2.13 when compared to previous closing price of 2.82, but the company has seen a 14.74% gain in its stock price over the last five trading sessions. prnewswire.com reported 2024-09-19 that PHILADELPHIA and PERTH, Australia, Sept. 19, 2024 /PRNewswire/ — Underscores unique position as a vertically integrated, diversified global producer of lithium chemicals with low-cost and high-quality assets Details ongoing expansion programs expected to more than double total sales volumes by 2028 across multiple products and regions Outlines path to Adjusted EBITDA1 of $1.3 billion by 2028 supported by strong and flexible balance sheet with peak net leverage of 2.1×1,2 Reaffirms significant expansion potential of one of the largest and most diverse resource bases in the industry Accelerating plan to deliver $125 million of merger-related cost savings roughly two years ahead of initial target Executed Memorandum of Understanding (MoU) with Toyota Tsusho in key step to unlocking further synergies Arcadium Lithium plc (NYSE: ALTM, ASX: LTM, “Arcadium Lithium” or the “Company”), a leading global lithium chemicals producer, today provided a number of strategic updates at its inaugural 2024 Investor Day.
Is It Worth Investing in Arcadium Lithium PLC (NYSE: ALTM) Right Now?
Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for ALTM is 1.03B, and currently, shorts hold a 7.24% of that float. The average trading volume for ALTM on September 30, 2024 was 11.32M shares.
ALTM’s Market Performance
ALTM stock saw an increase of 14.74% in the past week, with a monthly gain of 9.51% and a quarterly increase of -14.29%. The volatility ratio for the week is 4.47%, and the volatility levels for the last 30 days are 5.09% for Arcadium Lithium PLC (ALTM). The simple moving average for the past 20 days is 15.55% for ALTM’s stock, with a -28.26% simple moving average for the past 200 days.
Analysts’ Opinion of ALTM
Many brokerage firms have already submitted their reports for ALTM stocks, with UBS repeating the rating for ALTM by listing it as a “Neutral.” The predicted price for ALTM in the upcoming period, according to UBS is $3 based on the research report published on September 03, 2024 of the current year 2024.
Deutsche Bank, on the other hand, stated in their research note that they expect to see ALTM reach a price target of $3. The rating they have provided for ALTM stocks is “Hold” according to the report published on August 22nd, 2024.
Goldman gave a rating of “Neutral” to ALTM, setting the target price at $4.30 in the report published on June 27th of the current year.
ALTM Trading at 4.37% from the 50-Day Moving Average
After a stumble in the market that brought ALTM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -60.39% of loss for the given period.
Volatility was left at 5.09%, however, over the last 30 days, the volatility rate increased by 4.47%, as shares surge +7.87% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -20.44% lower at present.
During the last 5 trading sessions, ALTM rose by +14.74%, which changed the moving average for the period of 200-days by -80.50% in comparison to the 20-day moving average, which settled at $2.50. In addition, Arcadium Lithium PLC saw -57.71% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ALTM starting from Turner John Stephen Morris, who purchase 5,000 shares at the price of $3.23 back on Jun 21 ’24. After this action, Turner John Stephen Morris now owns 5,000 shares of Arcadium Lithium PLC, valued at $16,150 using the latest closing price.
Marcet Pablo, the Director of Arcadium Lithium PLC, purchase 10,000 shares at $4.70 during a trade that took place back on May 24 ’24, which means that Marcet Pablo is holding 55,674 shares at $47,000 based on the most recent closing price.
Stock Fundamentals for ALTM
Current profitability levels for the company are sitting at:
- 0.27 for the present operating margin
- 0.37 for the gross margin
The net margin for Arcadium Lithium PLC stands at 0.24. The total capital return value is set at 0.03.
Based on Arcadium Lithium PLC (ALTM), the company’s capital structure generated 0.09 points at debt to capital in total, while cash flow to debt ratio is standing at -0.01.
Currently, EBITDA for the company is 542.29 million with net debt to EBITDA at 0.95. When we switch over and look at the enterprise to sales, we see a ratio of 3.6. The receivables turnover for the company is 3.29for trailing twelve months and the total asset turnover is 0.1. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.26.
Conclusion
In conclusion, Arcadium Lithium PLC (ALTM) has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
