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, insiders and any underwriters involved in the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. 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 topic of several research analyst reports. Buckingham Research initiated coverage on Livent in a report on Wednesday, November 14th. They issued a “neutral” rating and a $18.00 price objective on the stock. They noted that the move was a valuation call. Credit Suisse Group initiated coverage on Livent in a report on Monday, November 5th. They issued an “outperform” rating and a $20.00 price objective on the stock. Goldman Sachs Group initiated coverage on Livent in a report on Monday, November 5th. They issued a “buy” rating and a $22.00 price objective on the stock. Loop Capital initiated coverage on shares of Livent in a research note on Friday, November 9th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, BMO Capital Markets initiated coverage on shares of Livent in a research note on Monday, October 29th. They issued a “market perform” rating and a $18.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.00.
Shares of LTHM stock traded down $0.17 during trading on Tuesday, hitting $17.63. 957,600 shares of the stock traded hands, compared to its average volume of 1,352,047. Livent has a 52-week low of $14.00 and a 52-week high of $19.23.
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.