Livent (NYSE:LTHM) Shares Down 15.2%

Shares of Livent Corporation (NYSE:LTHM) were down 15.2% during trading on Friday . The company traded as low as $9.80 and last traded at $10.06, approximately 9,600,351 shares traded hands during mid-day trading. An increase of 173% from the average daily volume of 3,514,276 shares. The stock had previously closed at $11.86.

A number of analysts have commented on LTHM shares. Zacks Investment Research downgraded shares of Livent from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Vertical Research cut shares of Livent from a “hold” rating to a “sell” rating in a research note on Friday. Seaport Global Securities cut shares of Livent from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 21st. TheStreet raised shares of Livent from a “d+” rating to a “c-” rating in a research note on Tuesday, December 10th. Finally, BMO Capital Markets cut shares of Livent from a “market perform” rating to an “underperform” rating and set a $7.50 price target for the company. in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $10.32.

The firm’s 50 day moving average price is $9.44 and its two-hundred day moving average price is $7.84. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.99 and a current ratio of 2.82. The firm has a market cap of $1.67 billion, a PE ratio of 18.98, a PEG ratio of 7.44 and a beta of 2.23.

Livent (NYSE:LTHM) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Livent had a net margin of 17.75% and a return on equity of 16.97%. The business had revenue of $78.40 million during the quarter, compared to analysts’ expectations of $76.61 million. During the same quarter in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was down 34.6% on a year-over-year basis. On average, analysts forecast that Livent Corporation will post 0.41 earnings per share for the current year.

Several large investors have recently bought and sold shares of the stock. Islay Capital Management LLC acquired a new stake in Livent in the 4th quarter valued at approximately $27,000. Marshall Wace LLP acquired a new stake in Livent in the 1st quarter valued at approximately $52,000. Chevy Chase Trust Holdings Inc. acquired a new stake in Livent in the 4th quarter valued at approximately $50,000. Daiwa Securities Group Inc. increased its holdings in Livent by 275.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,500 shares of the company’s stock valued at $50,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Hellman Jordan Management Co. Inc. MA acquired a new stake in Livent in the 4th quarter valued at approximately $91,000. 98.06% of the stock is owned by hedge funds and other institutional investors.

About Livent (NYSE: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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