E3 Lithium (CVE:ETL) Shares Down 19.1% - Here's Why

Key Points

• E3 Lithium's stock dropped 19.1% to close at C$1.14, significantly below its previous close of C$1.41.
• Trading volume surged to approximately 1.3 million shares, a 1,017% increase from the average daily volume.
• The company, engaged in lithium extraction in Alberta, has a market capitalization of C$89.42 million and reported a P/E ratio of -8.46.

E3 Lithium Limited (CVE:ETL - )'s stock price dropped 19.1% on Thursday . The company traded as low as C$1.11 and last traded at C$1.14. Approximately 1,327,318 shares traded hands during trading, an increase of 1,017% from the average daily volume of 118,872 shares. The stock had previously closed at C$1.41.

E3 Lithium Stock Performance

The business's 50 day simple moving average is C$1.41 and its two-hundred day simple moving average is C$1.04. The firm has a market capitalization of C$89.42 million, a P/E ratio of -8.46 and a beta of 0.94. The company has a current ratio of 12.10, a quick ratio of 3.82 and a debt-to-equity ratio of 1.05.

E3 Lithium Company Profile

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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