Livent Corp. (LTHM)

by | Dec 8, 2022 | Daily Trade Alerts

Livent Corp. (LTHM) has become wildly oversold at double bottom support.

From a current price of $25.18, we’d like to see the LTHM stock refill its bearish gap around $33 a share, near-term. Helping, demand for lithium is only set to increase, especially with global governments wanting millions of electric vehicles on the roads, yesterday. Even better for LTHM, it recently signed a six-year lithium supply deal with General Motors.

Earnings have also been solid. In its last quarter, LTHM EPS came in at 41 cents, as compared to expectations for 39 cents. Revenues were up about 124% to $231.6 million. In addition, “Lithium demand has remained robust despite some near-term supply chain disruptions and global macro concerns,” said Paul Graves, president and CEO of Livent. “Published lithium prices moved higher in the third quarter amid continued favorable market conditions. Livent achieved higher realized prices and delivered increased volumes to customers.”


Sponsored Content