NanoXplore (TSE:GRA) Shares Up 1.8% - Here's Why

NanoXplore Inc. (TSE:GRA - Get Free Report)'s share price shot up 1.8% during trading on Monday . The stock traded as high as C$2.30 and last traded at C$2.28. 48,173 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 92,217 shares. The stock had previously closed at C$2.24.

Analysts Set New Price Targets

Several research firms have weighed in on GRA. Royal Bank of Canada downgraded shares of NanoXplore from an "outperform" rating to a "sector perform" rating and dropped their target price for the stock from C$3.00 to C$2.50 in a research report on Wednesday, May 21st. Raymond James lowered shares of NanoXplore from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from C$4.00 to C$3.00 in a report on Thursday, February 13th. National Bankshares lowered NanoXplore from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from C$3.00 to C$2.80 in a research note on Thursday, May 22nd. Finally, National Bank Financial upgraded NanoXplore to a "hold" rating in a research note on Sunday, June 8th. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of C$2.77.

NanoXplore Stock Performance

The firm's fifty day simple moving average is C$2.38 and its 200 day simple moving average is C$2.39. The company has a market capitalization of C$407.77 million, a PE ratio of -36.66 and a beta of 1.26. The company has a debt-to-equity ratio of 21.81, a current ratio of 2.22 and a quick ratio of 2.01.

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.