Ganfeng Lithium Group (OTCMKTS:GNENF) Shares Down 5% – Here’s What Happened

Ganfeng Lithium Group Co., Ltd. (OTCMKTS:GNENF)’s share price fell 5% during mid-day trading on Thursday . The stock traded as low as $8.41 and last traded at $8.43. 38,934 shares changed hands during mid-day trading, an increase of 201% from the average session volume of 12,928 shares. The stock had previously closed at $8.8750.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lowered Ganfeng Lithium Group from a “neutral” rating to a “sell” rating in a report on Sunday, November 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Ganfeng Lithium Group Stock Down 5.0%

The stock’s 50 day simple moving average is $7.12 and its two-hundred day simple moving average is $5.70.

About Ganfeng Lithium Group

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.