Livent (NASDAQ:LTHM) Downgraded by Bank of America

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Bank of America lowered shares of Livent (NASDAQ:LTHM) from a neutral rating to an underperform rating in a report issued on Monday, BenzingaRatingsTable reports. The brokerage currently has $7.00 price target on the stock, down from their prior price target of $10.00.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Livent from a sell rating to a hold rating in a research note on Wednesday, July 17th. Argus cut Livent from a buy rating to a hold rating and set a $7.58 price target on the stock. in a research note on Thursday, May 16th. Loop Capital cut their target price on Livent to $12.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Citigroup set a $8.00 target price on Livent and gave the stock a hold rating in a research note on Monday, July 15th. Finally, Vertical Research cut Livent from a buy rating to a hold rating in a research note on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Livent presently has a consensus rating of Hold and a consensus target price of $15.11.

Shares of LTHM stock opened at $6.55 on Monday. The business’s fifty day moving average is $6.83 and its 200 day moving average is $9.61. Livent has a twelve month low of $5.49 and a twelve month high of $19.90.

Livent (NASDAQ:LTHM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $114.00 million during the quarter, compared to analysts’ expectations of $108.85 million. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC grew its stake in shares of Livent by 2.8% in the second quarter. Meadow Creek Investment Management LLC now owns 64,128 shares of the company’s stock worth $444,000 after acquiring an additional 1,776 shares during the last quarter. CSat Investment Advisory L.P. lifted its holdings in shares of Livent by 24.2% during the first quarter. CSat Investment Advisory L.P. now owns 10,253 shares of the company’s stock valued at $126,000 after purchasing an additional 1,996 shares in the last quarter. NJ State Employees Deferred Compensation Plan lifted its holdings in shares of Livent by 5.0% during the first quarter. NJ State Employees Deferred Compensation Plan now owns 42,000 shares of the company’s stock valued at $516,000 after purchasing an additional 2,000 shares in the last quarter. New Jersey Better Educational Savings Trust lifted its holdings in shares of Livent by 11.1% during the second quarter. New Jersey Better Educational Savings Trust now owns 20,000 shares of the company’s stock valued at $138,000 after purchasing an additional 2,000 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Livent by 1.6% during the second quarter. First Trust Advisors LP now owns 141,406 shares of the company’s stock valued at $979,000 after purchasing an additional 2,166 shares in the last quarter.

About Livent

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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Analyst Recommendations for Livent (NASDAQ:LTHM)

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