Livent (NYSE:LTHM) Trading Down 10.2%

Posted by on Jun 16th, 2022

Livent Co. (NYSE:LTHM – Get Rating) fell 10.2% on Thursday . The company traded as low as $22.14 and last traded at $22.16. 34,768 shares were traded during mid-day trading, a decline of 99% from the average session volume of 3,181,921 shares. The stock had previously closed at $24.67.

A number of research firms recently weighed in on LTHM. Mizuho upped their target price on shares of Livent from $26.00 to $34.00 in a research note on Thursday, May 5th. Cowen raised shares of Livent from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $25.00 to $33.00 in a research note on Wednesday, May 4th. TheStreet raised shares of Livent from a “c” rating to a “b-” rating in a research note on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Livent in a research note on Tuesday, May 17th. They set a “hold” rating and a $29.00 price objective on the stock. Finally, The Goldman Sachs Group decreased their price objective on shares of Livent from $23.00 to $20.00 and set a “sell” rating on the stock in a research note on Tuesday, March 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $29.42.

The stock’s 50-day moving average price is $26.27 and its 200-day moving average price is $24.95. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 81.97 and a beta of 1.98. The company has a quick ratio of 1.78, a current ratio of 3.03 and a debt-to-equity ratio of 0.28.

Livent (NYSE:LTHM – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.07. Livent had a net margin of 11.56% and a return on equity of 8.69%. The business had revenue of $143.50 million for the quarter, compared to analyst estimates of $139.92 million. During the same period in the prior year, the business posted $0.02 earnings per share. Livent’s revenue was up 56.5% compared to the same quarter last year. On average, equities research analysts anticipate that Livent Co. will post 1.23 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Livent by 3.2% in the first quarter. BlackRock Inc. now owns 25,674,467 shares of the company’s stock valued at $669,334,000 after buying an additional 797,187 shares during the period. Vanguard Group Inc. lifted its holdings in Livent by 0.6% in the first quarter. Vanguard Group Inc. now owns 17,627,545 shares of the company’s stock valued at $459,549,000 after buying an additional 109,353 shares during the period. Wellington Management Group LLP lifted its holdings in Livent by 5.7% in the first quarter. Wellington Management Group LLP now owns 7,824,996 shares of the company’s stock valued at $203,997,000 after buying an additional 421,082 shares during the period. State Street Corp raised its holdings in Livent by 3.8% in the first quarter. State Street Corp now owns 5,189,875 shares of the company’s stock worth $135,300,000 after purchasing an additional 190,369 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in Livent by 35.7% in the first quarter. Allianz Asset Management GmbH now owns 2,799,333 shares of the company’s stock worth $72,979,000 after purchasing an additional 736,174 shares during the period. Institutional investors and hedge funds own 97.33% of the company’s stock.

Livent Company Profile (NYSE:LTHM)

Livent Corporation manufactures and sells performance lithium compounds primarily used in lithium-based batteries, specialty polymers, and chemical synthesis applications in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. 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 butyllithium, which is used 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 non-rechargeable batteries and the production of lightweight materials for aerospace applications.

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