Lithium Ionic (CVE:LTH) Shares Up 5.3% – What’s Next?

Lithium Ionic Corp. (CVE:LTH)’s stock price shot up 5.3% on Wednesday . The stock traded as high as C$0.80 and last traded at C$0.80. 294,385 shares changed hands during trading, an increase of 25% from the average session volume of 236,261 shares. The stock had previously closed at C$0.76.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LTH. Cormark upgraded Lithium Ionic to a “moderate buy” rating in a research note on Thursday, September 25th. Canaccord Genuity Group boosted their price target on shares of Lithium Ionic from C$1.80 to C$2.15 and gave the company a “speculative buy” rating in a report on Thursday, September 18th. Finally, BMO Capital Markets increased their price objective on shares of Lithium Ionic from C$1.25 to C$1.50 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$1.83.

Lithium Ionic Trading Up 5.3%

The firm has a market cap of C$141.54 million, a P/E ratio of -11.43 and a beta of 0.80. The company’s fifty day moving average price is C$0.74 and its two-hundred day moving average price is C$0.68.