NJ State Employees Deferred Compensation Plan grew its stake in shares of Livent Corporation (NASDAQ:LTHM) by 9.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,000 shares of the company’s stock after purchasing an additional 4,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Livent were worth $318,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Exane Derivatives purchased a new stake in Livent in the 1st quarter worth about $32,000. First Mercantile Trust Co. purchased a new stake in Livent in the 1st quarter worth about $33,000. Synovus Financial Corp purchased a new stake in Livent in the 1st quarter worth about $39,000. Shell Asset Management Co. purchased a new stake in Livent in the 1st quarter worth about $40,000. Finally, Live Your Vision LLC purchased a new stake in Livent in the 1st quarter worth about $46,000.
Shares of LTHM traded down $0.01 during midday trading on Monday, reaching $5.97. 46,405 shares of the stock were exchanged, compared to its average volume of 2,612,014. Livent Corporation has a 12-month low of $5.83 and a 12-month high of $19.90. The business has a 50 day simple moving average of $6.89.
Livent (NASDAQ:LTHM) last posted its quarterly 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 quarterly revenue was down 4.4% compared to the same quarter last year.
Several equities research analysts recently issued reports on LTHM shares. Argus downgraded Livent from a “buy” rating to a “hold” rating and set a $7.58 price objective for the company. in a research note on Thursday, May 16th. Citigroup set a $8.00 price objective on Livent and gave the stock a “hold” rating in a research note on Monday, July 15th. Zacks Investment Research raised Livent from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Loop Capital cut their price target on Livent to $12.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Vertical Research downgraded Livent from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $16.11.
Livent Company Profile
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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