Lithium Ionic (CVE:LTH) Trading Up 4.8% – What’s Next?

Lithium Ionic Corp. (CVE:LTH)’s stock price shot up 4.8% on Thursday . The stock traded as high as C$0.87 and last traded at C$0.87. 209,357 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 242,889 shares. The stock had previously closed at C$0.83.

Analysts Set New Price Targets

Several research firms have recently weighed in on LTH. BMO Capital Markets increased their price target 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. Cormark upgraded Lithium Ionic to a “moderate buy” rating in a report on Thursday, September 25th. Finally, Canaccord Genuity Group increased their price objective on Lithium Ionic from C$1.80 to C$2.15 and gave the stock a “speculative buy” rating in a research report on Thursday, September 18th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Lithium Ionic currently has a consensus rating of “Buy” and an average target price of C$1.83.

Lithium Ionic Stock Up 4.8%

The business’s 50-day simple moving average is C$0.77 and its two-hundred day simple moving average is C$0.71. The firm has a market capitalization of C$151.16 million, a price-to-earnings ratio of -87.00 and a beta of 0.89.