Graphite One (CVE:GPH) Shares Down 14.8% – Here’s What Happened

Graphite One Inc. (CVE:GPH)’s share price traded down 14.8% on Tuesday . The company traded as low as C$1.57 and last traded at C$1.61. 745,460 shares were traded during mid-day trading, an increase of 84% from the average session volume of 405,121 shares. The stock had previously closed at C$1.89.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$2.85 price target on shares of Graphite One and gave the stock a “buy” rating in a research report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$2.85.

Graphite One Stock Down 15.3%

The firm has a market capitalization of C$290.42 million, a P/E ratio of -26.67 and a beta of 1.73. The firm’s 50 day moving average is C$1.96 and its two-hundred day moving average is C$1.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 0.33.

About Graphite One

Graphite One Inc operates as mineral exploration company in the United States. The company holds interest in the Graphite Creek property that consists of 135 mining claims located on the Seward Peninsula, Alaska. The company was formerly known as Graphite One Resources Inc and changed its name to Graphite One Inc in February 2019. Graphite One Inc was incorporated in 2006 and is headquartered in Vancouver, Canada.