Snow Lake Resources Ltd. [NASDAQ: LITM] gained 38.26% on the last trading session, reaching $3.18 price per share at the time. The company report on September 23, 2022 that Snow Lake Lithium Receives Nasdaq Notification of Noncompliance with Audit Committee Requirements.
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Snow Lake Resources Ltd., d
The letter also states that Nasdaq will provide the Company a cure period in accordance with Listing Rule 5605(c)(4). Pursuant to Nasdaq Listing Rule 5605(c)(4), the Company is entitled to a cure period to regain compliance, such cure period to expire on the earlier of the Company’s next annual shareholders’ meeting or September 7, 2023; provided, however, that if the Company’s next annual shareholders’ meeting is held before March 6, 2023, then the Company must evidence compliance no later than March 6, 2023.
Snow Lake Resources Ltd. represents 17.84 million in outstanding shares, while the company has a total market value of $40.99 million with the latest information. LITM stock price has been found in the range of $2.58 to $3.55.
If compared to the average trading volume of 313.99K shares, LITM reached a trading volume of 73486603 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Snow Lake Resources Ltd. [LITM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LITM shares is $15.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LITM stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for Snow Lake Resources Ltd. is set at 0.28 The Price to Book ratio for the last quarter was 2.12, with the Price to Cash per share for the same quarter was set at 1.77.
Trading performance analysis for LITM stock
Snow Lake Resources Ltd. [LITM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.26. With this latest performance, LITM shares gained by 24.22% in over the last four-week period, additionally sinking by -57.66% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LITM stock in for the last two-week period is set at 64.52, with the RSI for the last a single of trading hit 70.26, and the three-weeks RSI is set at 59.99 for Snow Lake Resources Ltd. [LITM]. The present Moving Average for the last 50 days of trading for this stock 2.55, while it was recorded at 2.54 for the last single week of trading, and 4.56 for the last 200 days.
Snow Lake Resources Ltd. [LITM]: A deeper dive into fundamental analysis
Snow Lake Resources Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 15.70 and a Current Ratio set at 15.70.
An analysis of insider ownership at Snow Lake Resources Ltd. [LITM]
There are presently around $5 million, or 9.50% of LITM stock, in the hands of institutional investors. The top three institutional holders of LITM stocks are: MURCHINSON LTD. with ownership of 489,505, which is approximately New of the company’s market cap and around 56.99% of the total institutional ownership; AROSA CAPITAL MANAGEMENT LP, holding 402,020 shares of the stock with an approximate value of $1.28 million in LITM stocks shares; and WALLEYE CAPITAL LLC, currently with $0.65 million in LITM stock with ownership of nearly New of the company’s market capitalization.
15 institutional holders increased their position in Snow Lake Resources Ltd. [NASDAQ:LITM] by around 1,355,991 shares. Additionally, 7 investors decreased positions by around 95,946 shares, while 0 investors held positions by with 218,322 shares. The mentioned changes placed institutional holdings at 1,670,259 shares, according to the latest SEC report filing. LITM stock had 13 new institutional investments in for a total of 1,152,571 shares, while 4 institutional investors sold positions of 62,110 shares during the same period.