Livent’s (NASDAQ:LTHM) quiet period will end on Tuesday, November 20th. Livent had issued 20,000,000 shares in its IPO on October 11th. The total size of the offering was $340,000,000 based on an initial share price of $17.00. During Livent’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
LTHM has been the subject of a number of recent analyst reports. Vertical Research initiated coverage on shares of Livent in a research report on Monday, October 22nd. They issued a “buy” rating and a $20.00 price objective for the company. BMO Capital Markets initiated coverage on Livent in a report on Monday, October 29th. They set a “market perform” rating and a $18.00 target price for the company. Seaport Global Securities reiterated a “buy” rating on shares of Livent in a report on Friday, October 26th. Goldman Sachs Group initiated coverage on shares of Livent in a research note on Monday, November 5th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Bank of America initiated coverage on shares of Livent in a research report on Monday, November 5th. They set a “buy” rating and a $20.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Livent presently has a consensus rating of “Buy” and an average price target of $20.20.
Shares of LTHM traded down $1.58 during mid-day trading on Wednesday, hitting $17.59. 1,526,711 shares of the company’s stock were exchanged, compared to its average volume of 1,403,114. Livent has a 52 week low of $14.00 and a 52 week high of $19.90.
Livent (NASDAQ:LTHM) last announced its earnings results on Tuesday, November 6th. The company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The business had revenue of $112.00 million for the quarter, compared to the consensus estimate of $113.40 million.