Atlantic Lithium (LON:ALL) Trading Down 18.6% - Here's Why

Key Points

• Shares of Atlantic Lithium plunged 18.6% intraday to GBX 14.25 (low GBX 14) from a prior close of GBX 17.50, while volume jumped to 21,877,748 shares — a 655% increase versus average session volume.
• Canaccord Genuity reiterated a "speculative buy" and set a GBX 37 price target; the stock's consensus rating is also Buy with a consensus target of GBX 37.
• The company has a market capitalization of £110.74 million and a negative P/E of -14.79, with 50- and 200-day moving averages at GBX 14.92 and GBX 11.31 respectively.

Shares of Atlantic Lithium Limited (LON:ALL - Get Free Report) traded down 18.6% during mid-day trading on Monday . The stock traded as low as GBX 14 and last traded at GBX 14.25. 21,877,748 shares traded hands during mid-day trading, an increase of 655% from the average session volume of 2,898,030 shares. The stock had previously closed at GBX 17.50.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group restated a "speculative buy" rating and issued a GBX 37 price target on shares of Atlantic Lithium in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of GBX 37.

Atlantic Lithium Trading Down 15.5%

The business has a 50-day moving average price of GBX 14.92 and a 200 day moving average price of GBX 11.31. The stock has a market capitalization of £110.74 million, a P/E ratio of -14.79 and a beta of 0.10.

Atlantic Lithium Company Profile

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.