Livent (NASDAQ:LTHM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Livent Corporation produces and distributes lithium chemicals. The Company offers lithium chemicals for applications in batteries, agrochemicals, aerospace alloys, greases, pharmaceuticals, polymers, and various industrial applications. Livent Corporation is based in PA, United States. “

A number of other brokerages have also weighed in on LTHM. Loop Capital set a $18.00 price target on shares of Livent and gave the company a “buy” rating in a report on Friday, March 1st. Gabelli initiated coverage on shares of Livent in a research note on Wednesday, February 27th. They set a “buy” rating and a $21.00 price objective on the stock. Bank of America set a $16.00 price target on shares of Livent and gave the company a “buy” rating in a research note on Thursday, February 14th. Credit Suisse Group set a $18.00 target price on shares of Livent and gave the stock a “buy” rating in a research report on Thursday, February 14th. Finally, Vertical Research downgraded shares of Livent from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $16.47.

Shares of LTHM stock opened at $7.26 on Wednesday. Livent has a 12-month low of $6.22 and a 12-month high of $19.90.

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

A number of large investors have recently modified their holdings of LTHM. Rhumbline Advisers bought a new stake in Livent in the 4th quarter valued at $418,000. SG Americas Securities LLC bought a new stake in Livent in the 4th quarter valued at $314,000. M&T Bank Corp bought a new stake in Livent in the 4th quarter valued at $261,000. CIBC Private Wealth Group LLC bought a new stake in Livent in the 4th quarter valued at $18,402,000. Finally, Birchview Capital LP bought a new stake in Livent in the 4th quarter valued at $138,000.

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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