NanoXplore (TSE:GRA) Stock Price Down 10.6% - Time to Sell?

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.

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

Analysts Set New Price Targets

Separately, National Bank Financial upgraded shares of NanoXplore to a "hold" rating in a report on Sunday, June 8th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, NanoXplore currently has an average rating of "Hold" and an average target price of C$2.77.

NanoXplore Stock Performance

The company has a debt-to-equity ratio of 21.81, a quick ratio of 2.01 and a current ratio of 2.22. The firm's 50-day moving average price is C$2.95 and its two-hundred day moving average price is C$2.58. The firm has a market capitalization of C$482.82 million, a price-to-earnings ratio of -47.17 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.