Avalon Advanced Materials (TSE:AVL) Shares Down 28% - Here's What Happened

Key Points

• Avalon Advanced Materials' shares fell 28% on Wednesday, trading as low as C$0.09, significantly higher than its average session volume of 747,295 shares.
• The company has a high debt-to-equity ratio of 5.71 and a market capitalization of C$57.91 million.
• Avalon is focusing on developing its lithium supply chain in Ontario, including a lithium hydroxide processing facility to support EV battery manufacturing.

Avalon Advanced Materials Inc. (TSE:AVL - )'s share price traded down 28% during trading on Wednesday . The stock traded as low as C$0.09 and last traded at C$0.09. 7,971,660 shares traded hands during mid-day trading, an increase of 967% from the average session volume of 747,295 shares. The stock had previously closed at C$0.13.

Avalon Advanced Materials Stock Down 28.0%

The company has a debt-to-equity ratio of 5.71, a current ratio of 1.66 and a quick ratio of 2.13. The stock has a market capitalization of C$57.91 million, a P/E ratio of -9.00 and a beta of 0.70. The firm has a 50-day simple moving average of C$0.05 and a 200 day simple moving average of C$0.04.

About Avalon Advanced Materials

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.

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