Avalon Advanced Materials (TSE:AVL) Shares Down 14.3% – Here’s What Happened

Shares of Avalon Advanced Materials Inc. (TSE:AVL) traded down 14.3% during mid-day trading on Thursday . The company traded as low as C$0.03 and last traded at C$0.03. 418,302 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 300,535 shares. The stock had previously closed at C$0.04.

Avalon Advanced Materials Trading Down 14.3 %

The stock has a market capitalization of C$16.95 million, a PE ratio of -7.00 and a beta of 1.86. The company has a current ratio of 1.66, a quick ratio of 2.13 and a debt-to-equity ratio of 5.71. The stock has a 50 day moving average price of C$0.03 and a 200-day moving average price of C$0.04.

Avalon Advanced Materials Company Profile

Avalon Advanced Materials Inc is a Canadian critical minerals development company focused on vertically integrating the Ontario lithium supply chain. The company is currently developing its Separation Rapids deposit near Kenora, ON. while continuing to advance other projects in its portfolio. In additional to extraction activities, Avalon is executing on its key strategic objective of constructing Ontario’s first midstream lithium hydroxide processing facility to bridge upstream lithium production and downstream EV battery manufacturing.