Lithium Ionic (CVE:LTH) Trading Down 7% – What’s Next?

Lithium Ionic Corp. (CVE:LTH) was down 7% during trading on Friday . The stock traded as low as C$1.17 and last traded at C$1.20. Approximately 220,404 shares were traded during trading, a decline of 44% from the average daily volume of 396,622 shares. The stock had previously closed at C$1.29.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LTH. Cormark raised shares of Lithium Ionic to a “moderate buy” rating in a research report on Thursday, September 25th. Canaccord Genuity Group lifted their price objective on shares of Lithium Ionic from C$1.80 to C$2.15 and gave the company a “speculative buy” rating in a research note on Thursday, September 18th. Finally, BMO Capital Markets boosted their target price on shares of Lithium Ionic from C$1.25 to C$1.50 and gave the company an “outperform” rating in a report on Monday, September 22nd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$1.83.

Lithium Ionic Stock Down 7.0%

The business’s 50-day moving average price is C$0.87 and its 200 day moving average price is C$0.77. The company has a market capitalization of C$208.50 million, a P/E ratio of -120.00 and a beta of 0.95.