NanoXplore (TSE:GRA) Trading 1.7% Higher - Here's What Happened

Key Points

• NanoXplore Inc. shares increased by 1.7%, closing at C$3.00 with a trading volume significantly higher than average.
• Equity analysts have recently adjusted their ratings on NanoXplore, with National Bank reducing its price target to C$2.80 and Royal Bank lowering it to C$2.50, while the company maintains an average consensus rating of "Hold."
• NanoXplore is a graphene manufacturer supplying products across various industrial sectors, with a significant portion of its revenue generated from the United States.

NanoXplore Inc. (TSE:GRA - Get Free Report) traded up 1.7% on Friday . The stock traded as high as C$3.03 and last traded at C$3.00. 201,503 shares changed hands during mid-day trading, an increase of 112% from the average session volume of 94,928 shares. The stock had previously closed at C$2.95.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. National Bankshares cut NanoXplore from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from C$3.00 to C$2.80 in a research report on Thursday, May 22nd. National Bank Financial upgraded NanoXplore to a "hold" rating in a research report on Sunday, June 8th. Finally, Royal Bank Of Canada cut NanoXplore from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from C$3.00 to C$2.50 in a research report on Wednesday, May 21st. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of C$2.77.

NanoXplore Stock Performance

The company has a 50-day moving average of C$2.58 and a 200 day moving average of C$2.47. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 21.81. The firm has a market capitalization of C$514.00 million, a PE ratio of -46.20 and a beta of 1.26.

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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