Livent Corporation (NASDAQ:LTHM) shares dropped 6.5% during trading on Wednesday . The stock traded as low as $6.76 and last traded at $6.79. Approximately 1,611,170 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 2,871,521 shares. The stock had previously closed at $7.26.
LTHM has been the subject of several recent analyst reports. Argus cut shares of Livent from a “buy” rating to a “hold” rating and set a $7.58 target price for the company. in a report on Thursday, May 16th. Credit Suisse Group set a $18.00 target price on shares of Livent and gave the stock a “buy” rating in a report on Thursday, February 14th. Gabelli initiated coverage on shares of Livent in a report on Wednesday, February 27th. They issued a “buy” rating and a $21.00 target price for the company. Zacks Investment Research cut shares of Livent from a “hold” rating to a “strong sell” rating in a report on Saturday, February 16th. Finally, Bank of America set a $16.00 target price on shares of Livent and gave the stock a “buy” rating in a report on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $16.47.
Livent (NASDAQ:LTHM) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $98.30 million for the quarter, compared to analyst estimates of $105.43 million. The firm’s revenue was down 4.4% compared to the same quarter last year.
About Livent (NASDAQ: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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