American Lithium (CVE:LI) Shares Pass Below 50 Day Moving Average – Here’s What Happened

American Lithium Corp. (CVE:LI) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$0.68 and traded as low as C$0.50. American Lithium shares last traded at C$0.52, with a volume of 157,313 shares traded.

Analyst Upgrades and Downgrades

LI has been the subject of several analyst reports. National Bankshares downgraded shares of American Lithium from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$0.80 to C$0.70 in a report on Thursday, January 16th. National Bank Financial cut shares of American Lithium from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 15th.

American Lithium Trading Up 2.0 %

The stock has a market cap of C$113.13 million, a P/E ratio of -3.06 and a beta of 2.30. The company has a current ratio of 5.35, a quick ratio of 1.45 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is C$0.68 and its 200 day simple moving average is C$0.73.

Insider Activity at American Lithium

In other news, Director Andrew William Bowering acquired 131,500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of C$0.60 per share, for a total transaction of C$78,742.20. Also, Director George Binninger sold 100,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of C$1.01, for a total value of C$101,000.00. 9.58% of the stock is currently owned by company insiders.

About American Lithium

American Lithium Corp., an exploration and development stage company, engages in the acquisition, exploration, and development of mineral properties in North and South America. Its properties include the TLC Lithium Project located in the town of Tonopah, Nevada; and the Falchani Lithium project and the Macusani Uranium project located in Puno, Peru.