E3 Lithium (CVE:ETL) Hits New 1-Year Low – Here’s Why

E3 Lithium Limited (CVE:ETL) shares hit a new 52-week low on Friday. The company traded as low as C$0.57 and last traded at C$0.57, with a volume of 157,848 shares trading hands. The stock had previously closed at C$0.60.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets lowered their target price on E3 Lithium from C$4.00 to C$3.75 in a research note on Wednesday, September 30th.

E3 Lithium Stock Down 6.7%

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 firm has a market cap of C$49.26 million, a P/E ratio of -8.00 and a beta of 0.78. The firm’s 50-day moving average price is C$0.80 and its 200 day moving average price is C$1.07.

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.