Zentek (CVE:ZEN) Stock Price Down 5.5% – Here’s Why

Shares of Zentek Ltd. (CVE:ZEN) traded down 5.5% during mid-day trading on Thursday. The company traded as low as C$0.52 and last traded at C$0.52. Approximately 56,502 shares changed hands during trading, a decline of 58% from the average session volume of 134,944 shares. The stock had previously closed at C$0.55.

Analysts Set New Price Targets

Separately, Atrium Research upgraded shares of Zentek to a “strong-buy” rating in a research report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating. According to MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Zentek Trading Down 5.5%

The firm has a market cap of C$65.96 million, a price-to-earnings ratio of -5.20 and a beta of 0.28. The company has a 50-day moving average price of C$0.65 and a 200 day moving average price of C$0.75. The company has a quick ratio of 7.59, a current ratio of 4.65 and a debt-to-equity ratio of 7.62.

Zentek Company Profile

Zentek Ltd., together with its subsidiaries, engages in the research and development of graphene and related nanomaterials in Canada. The company develops graphene-based antimicrobial coating under the ZenGUARD brand, surgical masks, HVAC filters, personal protective equipment, rapid detection point of care diagnostics tests, and pharmaceutical products based on graphene-based compounds. It is also developing graphene oxide synthesis and graphene synthesis. In addition, the company owns 100% interest in the Albany graphite project located in Northern Ontario, Canada.