Livent (LTHM) Downgraded by Gabelli to Sell

Gabelli cut shares of Livent (NASDAQ:LTHM) from a buy rating to a sell rating in a research note issued to investors on Thursday, Zacks.com reports.

Several other research analysts also recently weighed in on LTHM. Zacks Investment Research raised shares of Livent from a sell rating to a hold rating in a report on Wednesday, April 17th. Credit Suisse Group reaffirmed an outperform rating and issued a $12.00 target price (down previously from $18.00) on shares of Livent in a report on Thursday. Bank of America downgraded shares of Livent from a buy rating to a neutral rating and dropped their target price for the stock from $16.00 to $10.00 in a report on Friday. Vertical Research downgraded shares of Livent from a buy rating to a hold rating in a report on Thursday. Finally, Loop Capital dropped their target price on shares of Livent to $12.00 and set a buy rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $17.43.

Shares of Livent stock opened at $8.06 on Thursday. Livent has a fifty-two week low of $7.85 and a fifty-two week high of $19.90.

Livent (NASDAQ:LTHM) last issued its earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $98.30 million for the quarter, compared to the consensus estimate of $105.43 million. The firm’s quarterly revenue was down 4.4% on a year-over-year basis.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LTHM. NJ State Employees Deferred Compensation Plan bought a new position in shares of Livent during the 4th quarter valued at about $552,000. New Jersey Better Educational Savings Trust bought a new position in shares of Livent during the 4th quarter valued at about $248,000. State of New Jersey Common Pension Fund D bought a new position in shares of Livent during the 4th quarter valued at about $4,968,000. Supplemental Annuity Collective Trust of NJ bought a new position in shares of Livent during the 4th quarter valued at about $138,000. Finally, RWC Asset Management LLP bought a new position in shares of Livent during the 4th quarter valued at about $5,365,000.

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.

Further Reading: Systematic Risk and Investors

Analyst Recommendations for Livent (NASDAQ:LTHM)

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