Atlantic Lithium (OTC:ALLIF) Shares Up 5% – Should You Buy?

Atlantic Lithium Limited (OTC:ALLIF)’s stock price rose 5% during trading on Friday . The company traded as high as $0.21 and last traded at $0.21. Approximately 5,000 shares traded hands during trading, a decline of 86% from the average daily volume of 36,926 shares. The stock had previously closed at $0.20.

Atlantic Lithium Stock Performance

The stock’s fifty day simple moving average is $0.15 and its 200-day simple moving average is $0.14. The stock has a market cap of $39.54 million, a P/E ratio of -4.20 and a beta of -0.16.

Atlantic Lithium Company Profile

Atlantic Lithium Limited engages in the exploration and development of mineral properties in West Africa. It primarily explores for lithium deposits. The company's flagship project is the Ewoyaa lithium project located in Ghana. It holds interest in a lithium property covering an area of 774 square kilometers in Côte d'Ivoire. The company was formerly known as IronRidge Resources Limited and changed its name to Atlantic Lithium Limited in November 2021. Atlantic Lithium Limited was incorporated in 2007 and is based in Sydney, Australia.