NanoXplore (TSE:GRA) Stock Price Down 10.6% - Here's What Happened

Key Points

• NanoXplore Inc. shares fell by 10.6% during mid-day trading, hitting a low of C$2.74, following a previous close of C$3.10.
• Analysts have reduced their price targets for NanoXplore, with Royal Bank of Canada lowering it from C$3.00 to C$2.50, and National Bankshares adjusting it from C$3.00 to C$2.80.
• Currently, NanoXplore holds an average rating of "Hold" among analysts, with a consensus target price of C$2.77.

Shares of NanoXplore Inc. (TSE:GRA - Get Free Report) dropped 10.6% during mid-day trading on Wednesday . The stock traded as low as C$2.74 and last traded at C$2.77. Approximately 71,220 shares changed hands during trading, a decline of 26% from the average daily volume of 96,096 shares. The stock had previously closed at C$3.10.

Analysts Set New Price Targets

GRA has been the subject of a number of research analyst reports. Royal Bank Of Canada cut NanoXplore from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from C$3.00 to C$2.50 in a report on Wednesday, May 21st. National Bankshares cut NanoXplore from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from C$3.00 to C$2.80 in a research report on Thursday, May 22nd. Finally, National Bank Financial raised shares of NanoXplore to a "hold" rating in a research report on Sunday, June 8th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, NanoXplore currently has an average rating of "Hold" and a consensus target price of C$2.77.

NanoXplore Stock Down 11.9%

The firm has a 50 day simple moving average of C$2.92 and a two-hundred day simple moving average of C$2.57. The stock has a market capitalization of C$465.76 million, a P/E ratio of -45.50 and a beta of 0.50. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 21.81.

NanoXplore Company Profile

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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