Zentek (CVE:ZEN) Stock Price Down 5.5% – Here’s Why

Zentek Ltd. (CVE:ZEN) shares traded down 5.5% on Thursday. The company traded as low as C$0.52 and last traded at C$0.52. Approximately 56,502 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 134,944 shares. The stock had previously closed at C$0.55.

Wall Street Analysts Forecast Growth

Separately, Atrium Research raised 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. According to data from MarketBeat, the company has a consensus rating of “Strong Buy”.

Zentek Stock Performance

The company has a market cap of C$65.96 million, a P/E ratio of -5.20 and a beta of 0.28. The firm has a 50 day moving average price of C$0.65 and a 200-day moving average price of C$0.75. The company has a debt-to-equity ratio of 7.62, a quick ratio of 7.59 and a current ratio of 4.65.

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.