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

Shares of Noram Lithium Corp. (CVE:NRM) 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.

Wall Street Analysts Forecast Growth

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

Noram Lithium Stock Down 5.0 %

The firm 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. The firm’s fifty day moving average is C$0.10 and its 200 day moving average is C$0.13.

About Noram Lithium

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.