Graphite One (CVE:GPH) Stock Price Up 19% – What’s Next?

Graphite One Inc. (CVE:GPH) shares shot up 19% during mid-day trading on Wednesday . The stock traded as high as C$1.75 and last traded at C$1.44. 1,197,604 shares changed hands during trading, an increase of 417% from the average session volume of 231,758 shares. The stock had previously closed at C$1.21.

Wall Street Analyst Weigh In

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 note on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Graphite One presently has a consensus rating of “Buy” and an average price target of C$2.85.

Graphite One Trading Up 19.0%

The firm has a market capitalization of C$231.92 million, a P/E ratio of -24.00 and a beta of 1.34. The company has a current ratio of 1.09, a quick ratio of 0.33 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of C$1.15 and a 200-day simple moving average of C$0.94.

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.