E3 Lithium (CVE:ETL) Hits New 12-Month Low – Here’s Why

E3 Lithium Limited (CVE:ETL) hit a new 52-week low during trading on Tuesday. The company traded as low as C$0.73 and last traded at C$0.74, with a volume of 282253 shares trading hands. The stock had previously closed at C$0.76.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets cut their price objective on shares of E3 Lithium from C$4.00 to C$3.75 in a research report on Wednesday.

E3 Lithium Price Performance

The company has a quick ratio of 3.82, a current ratio of 1.59 and a debt-to-equity ratio of 1.28. The company’s 50-day moving average is C$0.99 and its 200-day moving average is C$1.11. The stock has a market cap of C$61.57 million, a price-to-earnings ratio of -10.00 and a beta of 0.69.

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.