Ganfeng Lithium Group (OTCMKTS:GNENF) Trading Down 2.8% – Here’s What Happened

Ganfeng Lithium Group Co., Ltd. (OTCMKTS:GNENF)’s share price dropped 2.8% during trading on Friday . The stock traded as low as $7.55 and last traded at $7.87. Approximately 1,766 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 8,970 shares. The stock had previously closed at $8.10.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lowered shares of Ganfeng Lithium Group from a “neutral” rating to a “sell” rating in a research note on Sunday, November 23rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Ganfeng Lithium Group Stock Performance

The company’s fifty day moving average is $7.55 and its 200-day moving average is $6.17.

Ganfeng Lithium Group Company Profile

Ganfeng Lithium Group Co, Ltd. (OTCMKTS: GNENF) is one of the world’s leading producers of lithium compounds and materials, with its headquarters in Xinyu, Jiangxi Province, China. Established in December 2000, the company specializes in the extraction, refining and processing of lithium resources, serving as a key supplier to the global electric vehicle and battery industries. Ganfeng’s product portfolio includes battery-grade lithium carbonate, lithium hydroxide and metal lithium, which are integral raw materials for lithium-ion batteries, glass and ceramics, lubricants and other industrial applications.

The company’s core operations encompass upstream mining and exploration, midstream refining and downstream electrode materials and recycling services.