Noram Lithium (CVE:NRM) Shares Pass Below Fifty Day Moving Average – Should You Sell?

Noram Lithium Corp. (CVE:NRM)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$0.09 and traded as low as C$0.09. Noram Lithium shares last traded at C$0.10, with a volume of 13,114 shares changing hands.

Wall Street Analysts Forecast Growth

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

Noram Lithium Stock Performance

The firm has a market capitalization of C$8.95 million, a price-to-earnings ratio of -2.74 and a beta of 1.26. The company has a quick ratio of 26.78, a current ratio of 4.30 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average is C$0.09 and its two-hundred day moving average is C$0.11.

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.