Avalon Advanced Materials (TSE:AVL) Shares Down 7.7% – Here’s Why

Avalon Advanced Materials Inc. (TSE:AVL) traded down 7.7% during trading on Thursday . The company traded as low as C$0.05 and last traded at C$0.06. 4,963,755 shares were traded during mid-day trading, an increase of 451% from the average session volume of 901,134 shares. The stock had previously closed at C$0.07.

Avalon Advanced Materials Stock Performance

The firm’s 50-day simple moving average is C$0.06 and its 200-day simple moving average is C$0.04. The company has a current ratio of 1.66, a quick ratio of 2.13 and a debt-to-equity ratio of 5.71. The company has a market capitalization of C$44.41 million, a PE ratio of -5.50 and a beta of 0.74.

Avalon Advanced Materials Company Profile

Avalon Advanced Materials Inc is a Canadian critical minerals development company focused on vertically integrating the Ontario lithium supply chain. The company is currently developing its Separation Rapids deposit near Kenora, ON. while continuing to advance other projects in its portfolio. In additional to extraction activities, Avalon is executing on its key strategic objective of constructing Ontario’s first midstream lithium hydroxide processing facility to bridge upstream lithium production and downstream EV battery manufacturing.