Livent (NYSE:LTHM) Shares Gap Up to $24.02

Livent Co. (NYSE:LTHM)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $24.02, but opened at $24.87. Livent shares last traded at $25.35, with a volume of 7,023 shares.

Several equities analysts recently commented on the stock. Loop Capital upped their price target on shares of Livent from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 4th. Vertical Research upgraded shares of Livent from a “sell” rating to a “hold” rating and set a $22.00 price target on the stock in a report on Monday, August 9th. Piper Sandler assumed coverage on shares of Livent in a report on Friday, October 1st. They set an “overweight” rating and a $29.00 price target on the stock. Mizuho assumed coverage on shares of Livent in a report on Tuesday. They set a “neutral” rating and a $26.00 price target on the stock. Finally, TheStreet upgraded shares of Livent from a “d+” rating to a “c” rating in a report on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.28.

The firm’s 50-day moving average price is $24.31 and its two-hundred day moving average price is $20.50. The stock has a market cap of $4.25 billion, a PE ratio of -292.44, a PEG ratio of 3.52 and a beta of 2.16. The company has a current ratio of 5.63, a quick ratio of 4.31 and a debt-to-equity ratio of 0.30.

Livent (NYSE:LTHM) last posted its earnings results on Thursday, August 5th. The company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. Livent had a negative net margin of 3.18% and a positive return on equity of 0.13%. The company had revenue of $102.20 million during the quarter, compared to analysts’ expectations of $88.80 million. On average, analysts anticipate that Livent Co. will post 0.14 earnings per share for the current year.

In related news, CFO Gilberto Antoniazzi sold 4,300 shares of the stock in a transaction that occurred on Monday, October 11th. The shares were sold at an average price of $23.32, for a total transaction of $100,276.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.11% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of LTHM. Marshall Wace LLP purchased a new position in shares of Livent in the first quarter worth $52,000. First Trust Advisors LP acquired a new stake in shares of Livent in the first quarter worth $1,710,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Livent in the first quarter worth $798,000. Rockefeller Capital Management L.P. increased its stake in shares of Livent by 18,518.5% in the first quarter. Rockefeller Capital Management L.P. now owns 5,027 shares of the company’s stock worth $87,000 after acquiring an additional 5,000 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of Livent by 23.0% in the first quarter. Teacher Retirement System of Texas now owns 16,297 shares of the company’s stock worth $282,000 after acquiring an additional 3,043 shares during the period. 94.13% of the stock is owned by institutional investors and hedge funds.

Livent Company Profile (NYSE:LTHM)

Livent Corp. engages in the production of performance lithium compounds. Its products include battery-grade lithium hydroxide, butyllithium, and purity lithium metal which are used in various performance applications. It operates through the following geographical segments: North America; Europe, Middle East, and Africa; Latin America; and Asia Pacific.

Featured Story: Trading Ex-Dividend Strategy

Receive News & Ratings for Livent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Livent and related companies with MarketBeat.com's FREE daily email newsletter.