Livent (NYSE:LTHM) had its price objective lowered by Citigroup from $8.25 to $7.50 in a research note released on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the stock.
Several other analysts have also recently weighed in on LTHM. Nomura set a $9.00 price target on shares of Livent and gave the company a hold rating in a research note on Wednesday, August 7th. Zacks Investment Research cut shares of Livent from a hold rating to a sell rating in a research note on Thursday, August 15th. Bank of America lowered shares of Livent from a neutral rating to an underperform rating and decreased their price objective for the stock from $10.00 to $7.00 in a report on Monday, August 12th. Finally, ValuEngine upgraded shares of Livent from a sell rating to a hold rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $15.08.
Shares of Livent stock traded up $0.36 during mid-day trading on Wednesday, hitting $6.94. The stock had a trading volume of 1,875,457 shares, compared to its average volume of 1,668,587. The firm has a 50-day moving average of $6.65 and a two-hundred day moving average of $7.94. Livent has a 12-month low of $5.49 and a 12-month high of $19.90. The company has a quick ratio of 2.11, a current ratio of 2.85 and a debt-to-equity ratio of 0.14. The firm has a market cap of $960.55 million and a P/E ratio of 7.63.
Several hedge funds have recently modified their holdings of the company. Meadow Creek Investment Management LLC lifted its holdings in shares of Livent by 2.8% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 64,128 shares of the company’s stock worth $444,000 after acquiring an additional 1,776 shares during the last quarter. New Jersey Better Educational Savings Trust lifted its holdings in Livent by 11.1% during the 2nd quarter. New Jersey Better Educational Savings Trust now owns 20,000 shares of the company’s stock worth $138,000 after buying an additional 2,000 shares in the last quarter. First Trust Advisors LP lifted its holdings in Livent by 1.6% during the 2nd quarter. First Trust Advisors LP now owns 141,406 shares of the company’s stock worth $979,000 after buying an additional 2,166 shares in the last quarter. Neuburgh Advisers LLC lifted its holdings in Livent by 2.8% during the 2nd quarter. Neuburgh Advisers LLC now owns 88,176 shares of the company’s stock worth $610,000 after buying an additional 2,442 shares in the last quarter. Finally, ETRADE Capital Management LLC lifted its holdings in Livent by 7.4% during the 2nd quarter. ETRADE Capital Management LLC now owns 37,872 shares of the company’s stock worth $262,000 after buying an additional 2,609 shares in the last quarter. Hedge funds and other institutional investors own 97.98% of the company’s stock.
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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