Karnalyte Resources (TSE:KRN) Shares Down 4.5% – Time to Sell?

Karnalyte Resources Inc. (TSE:KRN)’s stock price traded down 4.5% on Monday . The company traded as low as C$0.27 and last traded at C$0.32. 208,692 shares changed hands during mid-day trading, an increase of 275% from the average session volume of 55,662 shares. The stock had previously closed at C$0.33.

Karnalyte Resources Stock Performance

The company has a market capitalization of C$15.99 million, a P/E ratio of -15.00 and a beta of -0.83. The stock has a fifty day simple moving average of C$0.24 and a 200-day simple moving average of C$0.19. The company has a quick ratio of 6.40, a current ratio of 2.86 and a debt-to-equity ratio of 0.18.

About Karnalyte Resources

Karnalyte Resources Inc is a development stage company focused on two fertilizer products, potash and nitrogen, to be produced and manufactured in Saskatchewan. It owns the construction ready Wynyard Potash Project, with planned phase 1 production of high grade granular potash, and two subsequent phases. It is also exploring the development of the Proteos Nitrogen Project, which is a proposed small-scale nitrogen fertilizer plant with a nameplate production capacity of approximately 700 metric tonnes per day of ammonia and approximately 1,200 MTPD of urea, and a target customer market of independent fertilizer wholesalers in Central Saskatchewan.