Zentek (CVE:ZEN) Stock Price Down 4.1% – What’s Next?

Zentek Ltd. (CVE:ZEN) traded down 4.1% on Monday. The company traded as low as C$0.68 and last traded at C$0.70. Approximately 75,200 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 142,133 shares. The stock had previously closed at C$0.73.

Wall Street Analyst Weigh In

Separately, Atrium Research upgraded Zentek to a “strong-buy” rating in a research note on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Zentek presently has an average rating of “Strong Buy”.

Zentek Price Performance

The business has a 50-day simple moving average of C$0.80 and a two-hundred day simple moving average of C$0.76. The company has a quick ratio of 7.59, a current ratio of 4.65 and a debt-to-equity ratio of 7.62. The stock has a market capitalization of C$81.04 million, a price-to-earnings ratio of -6.40 and a beta of 0.33.

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.