Ganfeng Lithium Group (OTCMKTS:GNENF) Trading Down 2.8% – Should You Sell?

Ganfeng Lithium Group Co., Ltd. (OTCMKTS:GNENF) was down 2.8% on Friday . The stock traded as low as $7.55 and last traded at $7.87. Approximately 1,766 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 8,970 shares. The stock had previously closed at $8.10.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered shares of Ganfeng Lithium Group from a “neutral” rating to a “sell” rating in a research note on Sunday, November 23rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Ganfeng Lithium Group Stock Down 2.8%

The business’s 50 day moving average price is $7.55 and its 200-day moving average price is $6.19.

About Ganfeng Lithium Group

Ganfeng Lithium Group Co, Ltd. (OTCMKTS: GNENF) is one of the world’s leading producers of lithium compounds and materials, with its headquarters in Xinyu, Jiangxi Province, China. Established in December 2000, the company specializes in the extraction, refining and processing of lithium resources, serving as a key supplier to the global electric vehicle and battery industries. Ganfeng’s product portfolio includes battery-grade lithium carbonate, lithium hydroxide and metal lithium, which are integral raw materials for lithium-ion batteries, glass and ceramics, lubricants and other industrial applications.

The company’s core operations encompass upstream mining and exploration, midstream refining and downstream electrode materials and recycling services.