CleanTech Lithium (LON:CTL) Stock Price Down 14.2% – Here’s Why

CleanTech Lithium Plc (LON:CTL)’s share price dropped 14.2% on Tuesday . The stock traded as low as GBX 9 and last traded at GBX 9.10. Approximately 2,932,092 shares were traded during mid-day trading, an increase of 49% from the average daily volume of 1,964,099 shares. The stock had previously closed at GBX 10.60.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 20 target price on shares of CleanTech Lithium in a report on Monday, November 10th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 20.

CleanTech Lithium Price Performance

The stock has a market cap of £20.29 million, a P/E ratio of 10.64 and a beta of -0.79. The business’s fifty day moving average price is GBX 6.55 and its 200 day moving average price is GBX 6.08.

CleanTech Lithium Company Profile

CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing sustainable lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium’s mission is to produce material quantities of sustainable battery grade lithium products using Direct Lithium Extraction technology powered by renewable energy. The Company plans to be a leading supplier of ‘green’ lithium to the EV and battery manufacturing market.

CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and hold licences in Llamara and Salar de Atacama, located in the lithium triangle, a leading centre for battery grade lithium production.