Livent Target of Unusually High Options Trading (NYSE:LTHM)

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Livent Co. (NYSE:LTHMGet Rating) was the target of some unusual options trading activity on Thursday. Stock traders purchased 9,324 call options on the company. This is an increase of 45% compared to the average volume of 6,421 call options.

Livent Price Performance

LTHM opened at $34.70 on Friday. The company’s 50 day simple moving average is $26.48 and its 200 day simple moving average is $25.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 2.60. Livent has a 1 year low of $19.35 and a 1 year high of $35.00. The stock has a market capitalization of $6.22 billion, a PE ratio of 63.09 and a beta of 1.88.

Livent (NYSE:LTHMGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.30 by $0.07. Livent had a net margin of 18.36% and a return on equity of 14.62%. During the same period last year, the business earned $0.04 EPS. As a group, sell-side analysts expect that Livent will post 1.38 EPS for the current year.

Institutional Trading of Livent

A number of hedge funds have recently made changes to their positions in LTHM. Envestnet Asset Management Inc. raised its stake in shares of Livent by 16.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 63,051 shares of the company’s stock valued at $1,537,000 after purchasing an additional 9,112 shares during the period. SG Americas Securities LLC increased its stake in shares of Livent by 32.1% in the fourth quarter. SG Americas Securities LLC now owns 27,749 shares of the company’s stock worth $677,000 after buying an additional 6,736 shares during the last quarter. First Republic Investment Management Inc. increased its stake in shares of Livent by 8.6% in the fourth quarter. First Republic Investment Management Inc. now owns 10,742 shares of the company’s stock worth $262,000 after buying an additional 850 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Livent in the fourth quarter worth $130,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Livent by 74.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,631 shares of the company’s stock worth $5,233,000 after buying an additional 91,910 shares during the last quarter. Hedge funds and other institutional investors own 87.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on LTHM. Deutsche Bank Aktiengesellschaft cut their target price on shares of Livent from $29.00 to $24.00 and set a “hold” rating on the stock in a research note on Wednesday, July 6th. Citigroup upped their target price on shares of Livent to $27.00 in a report on Tuesday, August 9th. Mizuho decreased their price target on shares of Livent from $34.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, August 4th. TheStreet upgraded shares of Livent from a “c+” rating to a “b-” rating in a research note on Tuesday, August 9th. Finally, CICC Research assumed coverage on shares of Livent in a research report on Monday, August 8th. They set an “outperform” rating and a $27.30 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.39.

Livent Company Profile

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Livent Corporation manufactures and sells performance lithium compounds primarily used in lithium-based batteries, specialty polymers, and chemical synthesis applications in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. 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 butyllithium, which is used 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 non-rechargeable batteries and the production of lightweight materials for aerospace applications.

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