Livent (NYSE:LTHM) had its price target decreased by Citigroup from $8.25 to $7.50 in a report released on Wednesday, BenzingaRatingsTable reports. Citigroup currently has a neutral rating on the stock.
Several other research analysts also recently issued reports on LTHM. Zacks Investment Research downgraded shares of Livent from a hold rating to a sell rating in a research report on Thursday, August 15th. Bank of America downgraded shares of Livent from a neutral rating to an underperform rating and lowered their price objective for the stock from $10.00 to $7.00 in a research report on Monday, August 12th. ValuEngine upgraded shares of Livent from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Finally, Nomura set a $9.00 target price on shares of Livent and gave the stock a hold rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Livent presently has an average rating of Hold and a consensus price target of $15.08.
Livent stock traded up $0.36 during midday trading on Wednesday, hitting $6.94. 1,875,457 shares of the company’s stock were exchanged, compared to its average volume of 1,668,587. Livent has a 12-month low of $5.49 and a 12-month high of $19.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.11 and a current ratio of 2.85. The stock has a market cap of $960.55 million and a price-to-earnings ratio of 7.63. The firm’s 50 day simple moving average is $6.65 and its 200 day simple moving average is $7.94.
Several hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in shares of Livent in the second quarter valued at about $28,000. Coastal Investment Advisors Inc. lifted its stake in shares of Livent by 126.7% in the second quarter. Coastal Investment Advisors Inc. now owns 5,123 shares of the company’s stock valued at $35,000 after purchasing an additional 2,863 shares during the period. Marshall Wace LLP acquired a new stake in shares of Livent in the first quarter valued at about $52,000. Tower Research Capital LLC TRC acquired a new stake in shares of Livent in the second quarter valued at about $59,000. Finally, Sigma Planning Corp acquired a new stake in shares of Livent in the second quarter valued at about $77,000. 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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