NanoXplore (TSE:GRA) Reaches New 12-Month High - Should You Buy?

Key Points

• NanoXplore Inc. shares reached a new 12-month high of C$3.34 amidst significant trading volume, marking an increase from a previous close of C$3.21.
• Wall Street analysts have issued mixed reviews on the stock, with one rating a Strong Buy and four giving it a Hold rating, leading to a consensus price target of C$2.77.
• The company specializes in high-volume graphene powder production, primarily serving industrial markets in the United States.

NanoXplore Inc. (TSE:GRA - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$3.34 and last traded at C$3.30, with a volume of 95914 shares changing hands. The stock had previously closed at C$3.21.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GRA. National Bankshares lowered shares of NanoXplore from an "outperform" rating to a "sector perform" rating and decreased their target price for the company from C$3.00 to C$2.80 in a research report on Thursday, May 22nd. Royal Bank Of Canada lowered shares of NanoXplore from an "outperform" rating to a "sector perform" rating and decreased their target price for the company from C$3.00 to C$2.50 in a research report on Wednesday, May 21st. Finally, National Bank Financial upgraded shares of NanoXplore to a "hold" rating in a research report on Sunday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$2.77.

NanoXplore Stock Performance

The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 21.81. The company's 50-day moving average price is C$2.85 and its two-hundred day moving average price is C$2.55. The company has a market cap of C$554.48 million, a P/E ratio of -54.17 and a beta of 0.50.

About NanoXplore

NanoXplore Inc is a graphene company, manufacturer, and supplier of high-volume graphene powder for use in industrial markets. The company provides graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics, and other industrial sectors. Geographically, it generates a majority of revenue from the United States.

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