Allkem (OTCMKTS:OROCF) Shares Up 1.5% – Still a Buy?

Allkem Limited (OTCMKTS:OROCF)’s share price rose 1.5% during mid-day trading on Wednesday . The stock traded as high as $6.80 and last traded at $6.80. Approximately 1,900 shares were traded during trading, a decline of 87% from the average daily volume of 14,560 shares. The stock had previously closed at $6.70.

Allkem Price Performance

The stock’s 50 day simple moving average is $6.80 and its 200 day simple moving average is $6.80. The company has a quick ratio of 2.23, a current ratio of 2.52 and a debt-to-equity ratio of 0.08.

About Allkem

Allkem (OTCMKTS:OROCF) is a global lithium chemicals company that specializes in the production of battery‐grade lithium carbonate and lithium hydroxide. The company was originally established as Orocobre Limited in 2009 to develop the Olaroz lithium project in northwest Argentina. In 2021, Orocobre completed a merger with Galaxy Resources, creating Allkem and significantly expanding its footprint across key lithium producing regions.

Allkem’s principal operations include the Salar de Olaroz lithium carbonate facility in Argentina, the Mt Cattlin spodumene mine in Western Australia, and the Naraha lithium hydroxide plant in Japan, which it operates through a joint venture with Toyota Tsusho and LG Energy Solution.