Zacks Investment Research cut shares of Livent (NASDAQ:LTHM) from a hold rating to a sell rating in a research report sent to investors on Wednesday, Zacks.com reports.
According to Zacks, “Livent Corporation produces and distributes lithium chemicals. The Company offers lithium chemicals for applications in batteries, agrochemicals, aerospace alloys, greases, pharmaceuticals, polymers, and various industrial applications. Livent Corporation is based in PA, United States. “
A number of other analysts have also commented on LTHM. Loop Capital lowered their price objective on Livent to $18.00 and set a buy rating for the company in a research report on Wednesday, February 13th. Credit Suisse Group set a $18.00 price objective on Livent and gave the stock a buy rating in a research report on Thursday, February 14th. Bank of America set a $16.00 price objective on Livent and gave the stock a buy rating in a research report on Thursday, February 14th. Gabelli started coverage on Livent in a research report on Wednesday, February 27th. They issued a buy rating and a $21.00 price objective for the company. Finally, Citigroup lowered Livent from a buy rating to a neutral rating and lowered their price objective for the stock from $15.00 to $13.00 in a research report on Monday, April 15th. Two 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. The stock currently has an average rating of Hold and an average target price of $16.47.
Shares of NASDAQ:LTHM opened at $6.67 on Wednesday. Livent has a twelve month low of $6.22 and a twelve month high of $19.90.
Livent (NASDAQ:LTHM) last announced its earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). The firm had revenue of $98.30 million during the quarter, compared to the consensus estimate of $105.43 million. Livent’s revenue for the quarter was down 4.4% compared to the same quarter last year.
A number of hedge funds have recently made changes to their positions in LTHM. Coastal Investment Advisors Inc. acquired a new stake in Livent in the first quarter worth about $26,000. Athena Capital Advisors LLC bought a new position in Livent during the fourth quarter worth about $28,000. PNC Financial Services Group Inc. bought a new position in Livent during the fourth quarter worth about $31,000. Exane Derivatives bought a new position in Livent during the first quarter worth about $32,000. Finally, Glassman Wealth Services bought a new position in Livent during the fourth quarter worth about $33,000.
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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