Zentek (CVE:ZEN) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Zentek Ltd. (CVE:ZEN) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$0.75 and traded as low as C$0.59. Zentek shares last traded at C$0.59, with a volume of 33,685 shares trading hands.

Wall Street Analyst Weigh In

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

Zentek Stock Down 5.0%

The company has a current ratio of 4.65, a quick ratio of 7.59 and a debt-to-equity ratio of 7.62. The stock has a market capitalization of C$72.17 million, a PE ratio of -5.70 and a beta of 0.25. The stock’s fifty day simple moving average is C$0.73 and its 200-day simple moving average is C$0.75.

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.