CleanTech Lithium (LON:CTL) Stock Falls 18.6% – Should You Sell?

Shares of CleanTech Lithium Plc (LON:CTL) were down 18.6% during trading on Friday. The company traded as low as GBX 5.50 and last traded at GBX 5.70. Approximately 6,004,914 shares changed hands during mid-day trading, an increase of 244% from the average session volume of 1,745,903 shares. The stock had previously closed at GBX 7.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 17 price target on shares of CleanTech Lithium in a research report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating. According to MarketBeat, CleanTech Lithium presently has a consensus rating of “Buy” and an average target price of GBX 17.

CleanTech Lithium Stock Performance

The firm has a market capitalization of £20.82 million, a price-to-earnings ratio of -3.56 and a beta of -0.79. The stock’s fifty day moving average is GBX 6.91 and its two-hundred day moving average is GBX 7.46.

About CleanTech Lithium

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.