Zentek (CVE:ZEN) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Zentek Ltd. (CVE:ZEN)’s stock price crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$0.77 and traded as low as C$0.77. Zentek shares last traded at C$0.77, with a volume of 48,683 shares changing hands.

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 analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company has an average rating of “Strong Buy”.

Zentek Price Performance

The stock has a market cap of C$93.70 million, a P/E ratio of -7.40 and a beta of 0.33. The company has a current ratio of 4.65, a quick ratio of 7.59 and a debt-to-equity ratio of 7.62. The company’s fifty day simple moving average is C$0.79 and its 200-day simple moving average is C$0.77.

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.