Avalon Advanced Materials (TSE:AVL) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Avalon Advanced Materials Inc. (TSE:AVL) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$0.06 and traded as high as C$0.09. Avalon Advanced Materials shares last traded at C$0.08, with a volume of 2,684,182 shares traded.

Avalon Advanced Materials Price Performance

The business’s 50-day simple moving average is C$0.06 and its two-hundred day simple moving average is C$0.06. The stock has a market cap of C$62.62 million, a price-to-earnings ratio of -8.33 and a beta of 1.07. The company has a debt-to-equity ratio of 5.71, a current ratio of 1.66 and a quick ratio of 2.13.

Avalon Advanced Materials (TSE:AVL) last announced its quarterly earnings results on Friday, November 28th. The company reported C$0.01 EPS for the quarter. Avalon Advanced Materials had a negative return on equity of 0.04% and a negative net margin of 48.93%. Research analysts expect that Avalon Advanced Materials Inc. will post -0.04 earnings per share for the current year.

About Avalon Advanced Materials

Avalon Advanced Materials Inc is a Canadian critical minerals company advancing the supply of materials essential for Canadas future. The Company is focused on developing strategic assets that support secure, domestic supply chains and long-term economic growth. Avalon is focused on vertically integrating the Ontario lithium supply chain through the development of Lake Superior Lithium Inc, Ontarios first midstream lithium hydroxide processing facility, located in Thunder Bay. This facility will serve as a vital link between northern Ontarios lithium resources and the growing EV battery manufacturing base in southern Ontario and North America.