Zentek (CVE:ZEN) Trading Down 31.6% – Here’s Why

Zentek Ltd. (CVE:ZEN)’s stock price was down 31.6% during mid-day trading on Friday . The company traded as low as C$0.86 and last traded at C$0.93. Approximately 1,053,227 shares were traded during mid-day trading, an increase of 1,143% from the average daily volume of 84,742 shares. The stock had previously closed at C$1.36.

Zentek Trading Down 31.6%

The business’s 50 day simple moving average is C$0.80 and its two-hundred day simple moving average is C$0.94. The stock has a market cap of C$100.02 million, a P/E ratio of -11.63 and a beta of 0.34. The company has a quick ratio of 7.59, a current ratio of 1.00 and a debt-to-equity ratio of 15.41.

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.