Ultra Lithium (CVE:ULI) Shares Pass Below 50-Day Moving Average – Here’s Why

Shares of Ultra Lithium Inc (CVE:ULI) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$0.08 and traded as low as C$0.07. Ultra Lithium shares last traded at C$0.08, with a volume of 5,500 shares trading hands.

Ultra Lithium Price Performance

The stock has a market cap of C$7.67 million and a PE ratio of -6.67. The company’s fifty day moving average is C$0.08 and its 200-day moving average is C$0.08.

About Ultra Lithium

Ultra Lithium Inc, an exploration stage company, engages in the acquisition, exploration, and development of lithium properties. It holds a 100% interest in the La Borita Brine lithium project, which comprises 4 mining claims covering an area of approximately 3,000 hectares located within the Lithium Triangle of Argentina, Chile, and Bolivia; the Georgia Lake lithium pegmatites property consisting of 16 mineral claims covering an area of 2,416 hectares of land located in the Thunder Bay Mining Division, Ontario; the Forgan Lake lithium property that comprise 16 units covering an area of 256 hectares of land located in the Thunder Bay mining district in Northwestern Ontario; and the South Big Smoky Valley Brine lithium project comprising 659 mineral claims covering an area of approximately 12,500 hectares of land located in Esmeralda County, Nevada.