Graphite One (CVE:GPH) Stock Price Down 20.2% - Should You Sell?

Key Points

• Graphite One Inc. shares fell by 20.2% to C$1.62 during mid-day trading, with a significant increase in trading volume of 814% compared to its average.
• Analysts have set a new price target of C$2.85 for Graphite One and affirmed a "buy" rating, suggesting potential upside from current levels.
• The company's market capitalization stands at C$260.91 million, with notable financial metrics including a P/E ratio of -27.00 and low debt-to-equity ratio of 0.02.

Graphite One Inc. (CVE:GPH - Get Free Report) was down 20.2% during trading on Wednesday . The company traded as low as C$1.44 and last traded at C$1.62. Approximately 1,717,677 shares changed hands during mid-day trading, an increase of 814% from the average daily volume of 187,935 shares. The stock had previously closed at C$2.03.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$2.85 target price on shares of Graphite One and gave the company a "buy" rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of C$2.85.

Graphite One Price Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 0.33. The company has a market capitalization of C$260.91 million, a PE ratio of -27.00 and a beta of 1.40. The stock's 50 day simple moving average is C$0.95 and its 200-day simple moving average is C$0.88.

About Graphite One

Graphite One Inc operates as mineral exploration company in the United States. The company holds interest in the Graphite Creek property that consists of 135 mining claims located on the Seward Peninsula, Alaska. The company was formerly known as Graphite One Resources Inc and changed its name to Graphite One Inc in February 2019.

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