Avalon Advanced Materials (TSE:AVL) Stock Price Down 28% - What's Next?

Key Points

• Avalon Advanced Materials' stock price dropped by 28%, trading as low as C$0.09 after closing at C$0.13 on the previous day.
• The company's trading volume surged to 7,971,660 shares, an increase of 967% from its average session volume.
• Avalon is focused on developing Ontario's lithium supply chain and plans to construct the province's first midstream lithium hydroxide processing facility.

Avalon Advanced Materials Inc. (TSE:AVL - ) fell 28% during trading on Thursday . The company traded as low as C$0.09 and last traded at C$0.09. 7,971,660 shares changed hands during 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 Price Performance

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.