Avalon Advanced Materials (TSE:AVL) Stock Price Down 28% - Here's Why

Key Points

• Avalon Advanced Materials Inc. experienced a significant stock price drop of 28%, trading at C$0.09 during mid-day trading on Wednesday.
• The company's trading volume surged to approximately 7.31 million shares, marking an 889% increase from the average daily volume.
• Avalon Advanced Materials focuses on developing Ontario's lithium supply chain, including a strategic goal to construct the province's first midstream lithium hydroxide processing facility.

Avalon Advanced Materials Inc. (TSE:AVL - ) shares fell 28% during mid-day trading on Wednesday . The company traded as low as C$0.09 and last traded at C$0.09. 7,971,660 shares changed 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 business has a 50-day simple moving average of C$0.05 and a two-hundred day simple moving average of C$0.04. 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 company has a quick ratio of 2.13, a current ratio of 1.66 and a debt-to-equity ratio of 5.71.

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.

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