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

Shares of Ganfeng Lithium Group Co., Ltd. (OTCMKTS:GNENF) 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 Analysts Forecast Growth

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

Ganfeng Lithium Group Trading Down 8.8%

The business has a 50-day moving average price of $7.15 and a 200-day moving average price of $5.73.

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.