Noram Lithium (CVE:NRM) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Noram Lithium Corp. (CVE:NRM) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$0.10 and traded as low as C$0.10. Noram Lithium shares last traded at C$0.10, with a volume of 5,000 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$1.14 price objective on shares of Noram Lithium and gave the company a “buy” rating in a research report on Thursday, January 30th.

Noram Lithium Trading Down 5.0 %

The business’s 50-day moving average price is C$0.10 and its 200 day moving average price is C$0.13. The company has a market cap of C$8.95 million, a P/E ratio of -2.74 and a beta of 1.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 26.78 and a current ratio of 4.30.

Noram Lithium Company Profile

Noram Lithium Corp., through its subsidiary, Green Energy Resources Inc, engages in the acquisition, exploration, and development of mineral exploration properties. It holds 100% interests in the Zeus lithium project with 146 placer claims and 136 lode claims covering an area of 1,113 hectares located in Clayton Valley, Nevada, the United States.