American Lithium (NASDAQ:AMLI) Shares Down 1.4%

American Lithium Corp. (NASDAQ:AMLI – Get Rating) shares dropped 1.4% on Wednesday . The stock traded as low as $2.03 and last traded at $2.05. Approximately 137,029 shares traded hands during trading, a decline of 70% from the average daily volume of 462,524 shares. The stock had previously closed at $2.08.

Wall Street Analysts Forecast Growth

AMLI has been the topic of several analyst reports. B. Riley initiated coverage on American Lithium in a research report on Wednesday, March 1st. They set a “buy” rating and a $5.00 price target on the stock. Roth Capital reissued a “buy” rating on shares of American Lithium in a research note on Thursday, February 2nd.

American Lithium Trading Up 1.0 %

The firm has a 50 day moving average price of $2.18.

Institutional Investors Weigh In On American Lithium

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new position in American Lithium in the 1st quarter valued at about $541,000. Advisory Services Network LLC purchased a new position in American Lithium in the 1st quarter valued at about $25,000. Mercer Global Advisors Inc. ADV purchased a new position in American Lithium in the 1st quarter valued at about $28,000. Waverly Advisors LLC purchased a new position in American Lithium in the 1st quarter valued at about $25,000. Finally, Jane Street Group LLC purchased a new position in American Lithium in the 1st quarter valued at about $229,000. 0.01% of the stock is owned by hedge funds and other institutional investors.

American Lithium Company Profile

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American Lithium Corp. is an exploration stage company. It engages in the acquisition, exploration, and development of lithium deposits. The firm is focused on exploring and developing the TLC Lithium, Falchani Lithium, and Macusani Uranium projects. The company was founded on February 25, 1974 and is headquartered in Vancouver, Canada.