Graphite One (CVE:GPH) Shares Up 22.9% – What’s Next?

Shares of Graphite One Inc. (CVE:GPH) were up 22.9% on Wednesday . The stock traded as high as C$1.84 and last traded at C$1.77. Approximately 746,380 shares were traded during mid-day trading, an increase of 219% from the average daily volume of 234,043 shares. The stock had previously closed at C$1.44.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$2.85 target price on 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.com, the stock has an average rating of “Buy” and a consensus price target of C$2.85.

Graphite One Price Performance

The stock has a market capitalization of C$288.29 million, a P/E ratio of -29.83 and a beta of 1.34. The company’s 50 day simple moving average is C$1.15 and its two-hundred day simple moving average is C$0.94. 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.