Zentek (CVE:ZEN) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Zentek Ltd. (CVE:ZEN) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$1.08 and traded as low as C$0.78. Zentek shares last traded at C$0.83, with a volume of 20,275 shares trading hands.

Zentek Trading Down 3.6%

The company has a current ratio of 2.06, a quick ratio of 7.59 and a debt-to-equity ratio of 4.97. The business has a 50 day simple moving average of C$1.00 and a two-hundred day simple moving average of C$1.08. The stock has a market cap of C$85.85 million, a price-to-earnings ratio of -8.89 and a beta of 0.43.

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.