CleanTech Lithium (LON:CTL) Shares Down 18.6% – Should You Sell?

CleanTech Lithium Plc (LON:CTL) shares fell 18.6% during mid-day trading on Friday. The stock traded as low as GBX 5.50 and last traded at GBX 5.70. 6,004,914 shares were traded during mid-day trading, an increase of 244% from the average daily volume of 1,745,903 shares. The stock had previously closed at GBX 7.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 17 price objective on shares of CleanTech Lithium in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of GBX 17.

CleanTech Lithium Trading Down 18.6%

The firm has a market capitalization of £20.82 million, a price-to-earnings ratio of -3.56 and a beta of -0.79. The company has a 50-day moving average of GBX 6.91 and a 200-day moving average of GBX 7.46.

CleanTech Lithium Company Profile

CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing sustainable lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium’s mission is to produce material quantities of sustainable battery grade lithium products using Direct Lithium Extraction technology powered by renewable energy. The Company plans to be a leading supplier of ‘green’ lithium to the EV and battery manufacturing market. CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and hold licences in Llamara and Salar de Atacama, located in the lithium triangle, a leading centre for battery grade lithium production.