Graphite One (CVE:GPH) Shares Down 8.7% – Should You Sell?

Graphite One Inc. (CVE:GPH) shares fell 8.7% during mid-day trading on Monday . The stock traded as low as C$1.12 and last traded at C$1.15. 756,554 shares traded hands during trading, an increase of 241% from the average session volume of 222,037 shares. The stock had previously closed at C$1.26.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$2.85 price target on Graphite One and gave the stock a “buy” rating in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$2.85.

Graphite One Price Performance

The stock has a market cap of C$181.99 million, a PE ratio of -18.83 and a beta of 1.40. The business’s 50-day simple moving average is C$1.04 and its 200-day simple moving average is C$0.91. The company has a quick ratio of 0.33, a current ratio of 1.09 and a debt-to-equity ratio of 0.02.

About Graphite One

Graphite One Inc operates as mineral exploration company in the United States. The company holds interest in the Graphite Creek property that consists of 135 mining claims located on the Seward Peninsula, Alaska. The company was formerly known as Graphite One Resources Inc and changed its name to Graphite One Inc in February 2019.