Zentek (CVE:ZEN) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Zentek Ltd. (CVE:ZEN) shares passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$0.75 and traded as low as C$0.63. Zentek shares last traded at C$0.65, with a volume of 26,364 shares.

Analyst Upgrades and Downgrades

Separately, Atrium Research upgraded shares of Zentek to a “strong-buy” rating in a research report on Monday, September 14th. One investment 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 company has a current ratio of 4.65, a quick ratio of 7.59 and a debt-to-equity ratio of 7.62. The firm has a 50 day moving average price of C$0.76 and a 200-day moving average price of C$0.75. The firm has a market capitalization of C$77.24 million, a P/E ratio of -6.10 and a beta of 0.25.

About Zentek

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.