Lithium Australia NL (ASX:LIT) fell 11.8% on Wednesday . The stock traded as low as A$0.04 ($0.03) and last traded at A$0.05 ($0.03), 2,948,266 shares changed hands during trading. An increase of 240% from the average session volume of 865,970 shares. The stock had previously closed at A$0.05 ($0.04).
The stock’s fifty day simple moving average is A$0.07. The stock has a market capitalization of $21.68 million and a price-to-earnings ratio of -1.61. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 13.33.
In other news, insider Adrian Griffin 1,500,000 shares of the firm’s stock in a transaction dated Thursday, June 13th.
Lithium Australia NL engages in the acquisition, exploration, and development of mineral properties. The company is primarily involved in the extraction and recovery of lithium. It holds interests in various projects located in Western Australia, Queensland, Northern Territory, and South Australia in Australia; Mexico; and Germany.
Further Reading: Oversold
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