NumerixS Investment Technologies Inc bought a new position in shares of Livent Corporation (NASDAQ:LTHM) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 11,800 shares of the company’s stock, valued at approximately $144,000.
A number of other hedge funds also recently made changes to their positions in the business. NJ State Employees Deferred Compensation Plan raised its holdings in Livent by 5.0% during the 1st quarter. NJ State Employees Deferred Compensation Plan now owns 42,000 shares of the company’s stock worth $516,000 after buying an additional 2,000 shares during the period. Athena Capital Advisors LLC acquired a new stake in Livent during the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. acquired a new stake in Livent during the 4th quarter worth approximately $31,000. Glassman Wealth Services acquired a new stake in Livent during the 4th quarter worth approximately $33,000. Finally, Exane Derivatives acquired a new stake in Livent during the 1st quarter worth approximately $32,000.
NASDAQ LTHM opened at $7.25 on Friday. Livent Corporation has a 12-month low of $6.22 and a 12-month high of $19.90.
Several analysts have commented on the stock. Gabelli assumed coverage on shares of Livent in a report on Wednesday, February 27th. They set a “buy” rating and a $21.00 target price on the stock. Bank of America set a $16.00 target price on shares of Livent and gave the stock a “buy” rating in a report 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 report on Thursday, February 14th. Loop Capital set a $18.00 target price on shares of Livent and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Zacks Investment Research downgraded shares of Livent from a “hold” rating to a “strong sell” rating in a report on Saturday, February 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Livent currently has a consensus rating of “Hold” and an average target price of $16.47.
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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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