The stock of Livent Corporation (NYSE:LTHM) is now priced at $8.65 and the shares are 0.48 points up or 5.88% higher compared to its previous closing price of $8.17. The stock had 2.872 million contracts set over the past session. LTHM shares’ daily volume is compared to its average trading volume at 2.643 million shares. However, it has a float of 145 million and although its performance was 18.49% over the week, it’s one to watch. Analysts have given the LTHM stock a yearly average price target of $7.5 per share. It means the stock’s downside potential is -13.29% with the LTHM share price recently placing at $8.04 to $8.7. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are running away from the Livent Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the LTHM shares have declined. Short interest in the stock represents just 16.91% of its float, but the volume has dropped by 0.
In the last trading session, Livent Corporation (NYSE:LTHM) raised by $1.35 over the week and gained $2.38 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $12.29. The stock recorded its established 52-week high on 02/20/20.
Since 03/23/20, the stock has traded to a low of $3.95 at 118.99%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Livent Corporation’s two-week RSI is 74.64. This suggests that the stock is oversold at the moment and that LTHM shares’ price movement remains not stable. The stochastic readings are equally revealing at 87.24% meaning the LTHM share price is currently in oversold territory.
The technical chart shows that the LTHM stock will likely settle at between $8.89 and $9.12 per share. However, if the stock dips below $8.23, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $7.8.
Currently, the stock is trading in the green of MACD, with a reading of 0.55. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned LTHM a rating of Strong Buy in their intiating review released on August 26. BMO Capital Markets analysts upgraded their recommendation of the stock from Underperform to Market Perform in a flash note released to investors on April 06. Goldman seeing the stock struggling downgraded it from Buy to Neutral on March 30 placing it at $9.50 to $5.
The average rating for the LTHM equity is 2.82 and is currently gathering a bullish momentum. Of 12 analysts tracking Livent Corporation polled by Reuters, 8 rated LTHM as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the LTHM stock price is 35.89X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 78.6 above the group’s average of 47.1. Livent Corporation has its P/E ratio at 2.2, which means that the stock is currently trading at a discount relative to the 3.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Livent Corporation (NYSE:LTHM) will decrease by about -99.89%, which will see them reach $69.76 million. The company’s full-year revenues are, however, expected to diminish by about -21.49%, down from $388 million to $305 million. LTHM’s expected adjusted earnings should drop almost -91.67% to end up at $0.01 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -83.33% to record $0.07/share.