Livent Corporation (NYSE:LTHM) Short Interest Down 5.2% in October

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Livent Corporation (NYSE:LTHM) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 22,380,000 shares, a drop of 5.2% from the September 30th total of 23,600,000 shares. Approximately 15.5% of the company’s shares are short sold. Based on an average daily trading volume, of 1,950,000 shares, the short-interest ratio is presently 11.5 days.

LTHM opened at $7.62 on Wednesday. The firm has a market capitalization of $1.14 billion and a P/E ratio of 8.37. The firm’s 50 day moving average is $7.18 and its 200-day moving average is $7.06. Livent has a 52-week low of $5.49 and a 52-week high of $19.90. The company has a quick ratio of 1.99, a current ratio of 2.82 and a debt-to-equity ratio of 0.20.

Livent (NYSE:LTHM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The firm had revenue of $97.70 million for the quarter, compared to analysts’ expectations of $112.75 million. Livent had a net margin of 17.75% and a return on equity of 16.97%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 EPS. Equities analysts expect that Livent will post 0.45 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of LTHM. Point72 Hong Kong Ltd purchased a new stake in shares of Livent during the second quarter valued at approximately $28,000. Coastal Investment Advisors Inc. raised its stake in shares of Livent by 126.7% during 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. Daiwa Securities Group Inc. increased its stake in shares of Livent by 275.0% in the third quarter. Daiwa Securities Group Inc. now owns 7,500 shares of the company’s stock worth $50,000 after buying an additional 5,500 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Livent in the first quarter worth $52,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Livent in the second quarter worth $59,000. Institutional investors own 98.18% of the company’s stock.

Several research analysts recently commented on LTHM shares. Bank of America lowered shares of Livent from a “neutral” rating to an “underperform” rating and cut their price target for the company from $10.00 to $7.00 in a report on Monday, August 12th. Zacks Investment Research lowered shares of Livent from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. Seaport Global Securities restated a “buy” rating on shares of Livent in a report on Tuesday, November 5th. Nomura set a $9.00 price target on shares of Livent and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, Citigroup cut their price target on shares of Livent from $8.25 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $13.31.

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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