Zentek (CVE:ZEN) Trading Down 8.1% – Here’s Why

Shares of Zentek Ltd. (CVE:ZEN) traded down 8.1% on Friday . The stock traded as low as C$0.90 and last traded at C$0.91. 406,043 shares changed hands during mid-day trading, an increase of 309% from the average session volume of 99,199 shares. The stock had previously closed at C$0.99.

Zentek Stock Performance

The company has a 50-day simple moving average of C$0.81 and a two-hundred day simple moving average of C$0.94. The company has a quick ratio of 7.59, a current ratio of 1.00 and a debt-to-equity ratio of 15.41. The firm has a market cap of C$97.87 million, a PE ratio of -11.38 and a beta of 0.34.

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.