Arcadium Lithium PLC [ALTM] is -36.71% lower this YTD. Is it still time to buy?

Arcadium Lithium PLC [NYSE: ALTM] plunged by -$0.12 during the normal trading session on while it closed the day at $4.31. The company report on March 15, 2024 at 2:08 PM that Arcadium Lithium Responds to Provincial Court Ruling in Argentina.

Arcadium Lithium plc (NYSE: ALTM, ASX: LTM, “Arcadium Lithium”) today released the following statement in response to a recent court ruling by the Court of Justice in the Province of Catamarca. The ruling temporarily halts the issuance of new environmental permits and authorizations for the Los Patos River area until the provincial government completes an environmental impact assessment that takes into consideration the cumulative impact of all projects in the area.

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The market cap for ALTM stock reached $4.63 billion, with 1.07 billion shares outstanding and 1.07 billion shares in the current float. Compared to the average trading volume of 15.71M shares, ALTM reached a trading volume of 10683654 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Arcadium Lithium PLC [ALTM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALTM shares is $7.39 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALTM stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Arcadium Lithium PLC shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on March 01, 2024. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Underweight. The new note on the price target was released on February 07, 2024, representing the official price target for Arcadium Lithium PLC stock. Previously, the target price had yet another raise to $5, while JP Morgan analysts kept a Neutral rating on ALTM stock.

The Average True Range (ATR) for Arcadium Lithium PLC is set at 0.30 The Price to Book ratio for the last quarter was 0.39, with the Price to Cash per share for the same quarter was set at 0.24.

ALTM stock trade performance evaluation

Arcadium Lithium PLC [ALTM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.91.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALTM stock in for the last two-week period is set at 41.29, with the RSI for the last a single of trading hit 41.20, and the three-weeks RSI is set at 38.10 for Arcadium Lithium PLC [ALTM]. The present Moving Average for the last 50 days of trading for this stock 4.80, while it was recorded at 4.27 for the last single week of trading, and 15.51 for the last 200 days.

Arcadium Lithium PLC [ALTM]: An insightful look at the core fundamentals

Arcadium Lithium PLC’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.41.

Arcadium Lithium PLC [ALTM]: Institutional Ownership

The top three institutional holders of ALTM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ALTM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ALTM stock with ownership which is approximately 5.8325%.