Atlantic Lithium (LON:ALL) Stock Price Down 14.7% - Time to Sell?

Key Points

• Atlantic Lithium's share price dropped by 14.7% to GBX 8.02 ($0.11), with trading volume significantly increasing by 128% compared to the average.
• Canaccord Genuity Group maintains a "speculative buy" rating for the stock, predicting a target price of GBX 34, indicating potential for recovery despite the recent decline.
• The company holds a market capitalization of £60.46 million and has a notably high P/E ratio of -848.40, suggesting potential volatility in its earnings outlook.

Atlantic Lithium Limited (LON:ALL - Get Free Report)'s share price fell 14.7% during trading on Tuesday . The stock traded as low as GBX 8.02 ($0.11) and last traded at GBX 8.02 ($0.11). 2,489,450 shares were traded during trading, an increase of 128% from the average session volume of 1,090,768 shares. The stock had previously closed at GBX 9.40 ($0.13).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reiterated a "speculative buy" rating and issued a GBX 34 price objective on shares of Atlantic Lithium in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of GBX 34.

Atlantic Lithium Trading Down 9.7%

The firm has a market capitalization of £60.46 million, a P/E ratio of -848.40 and a beta of -0.08. The business's 50 day moving average is GBX 8.64 and its two-hundred day moving average is GBX 7.72. The company has a quick ratio of 6.08, a current ratio of 3.58 and a debt-to-equity ratio of 1.72.

About Atlantic Lithium

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