E3 Lithium (CVE:ETL) Shares Down 16.3% - What's Next?

Key Points

• Shares of E3 Lithium Limited (CVE:ETL) dropped 16.3%, trading as low as C$1.11 before last trading at C$1.18.
• The trading volume surged to approximately 1,124,211 shares, a notable increase of 855% compared to the average daily volume.
• E3 Lithium has a market cap of C$86.02 million and a price-to-earnings ratio of -8.14, indicating negative earnings growth.

Shares of E3 Lithium Limited (CVE:ETL - ) were down 16.3% on Wednesday . The company traded as low as C$1.11 and last traded at C$1.18. Approximately 1,124,211 shares changed hands during mid-day trading, an increase of 855% from the average daily volume of 117,754 shares. The stock had previously closed at C$1.41.

E3 Lithium Stock Performance

The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.82 and a current ratio of 12.10. The stock's fifty day moving average is C$1.41 and its two-hundred day moving average is C$1.03. The firm has a market cap of C$86.02 million, a price-to-earnings ratio of -8.14 and a beta of 0.94.

About E3 Lithium

E3 Lithium Limited engages in the development and extraction of lithium properties in Alberta. The company was formerly known as E3 Metals Corp. and changed its name to E3 Lithium Limited in July 2022. E3 Lithium Limited is headquartered in Calgary, Canada.

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