Zentek (CVE:ZEN) Shares Cross Below 200 Day Moving Average - Time to Sell?

Key Points

• Zentek Ltd. shares have dropped below their 200-day moving average of C$1.55, trading as low as C$1.12, which raises concerns for investors about potential selling pressure.
• The company's stock is currently down 3.4% with a market capitalization of C$119.37 million and a troubling price-to-earnings ratio of -14.25.
• Zentek specializes in graphene and nanomaterials for various applications, including antimicrobial coatings, surgical masks, and diagnostic testing, indicating its focus on innovative health technologies.

Zentek Ltd. (CVE:ZEN - ) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$1.55 and traded as low as C$1.12. Zentek shares last traded at C$1.14, with a volume of 21,693 shares traded.

Zentek Stock Down 3.4%

The stock has a market cap of C$119.37 million, a price-to-earnings ratio of -14.25 and a beta of 0.29. The company has a current ratio of 2.06, a quick ratio of 7.59 and a debt-to-equity ratio of 4.97. The stock's 50-day moving average price is C$1.16 and its 200-day moving average price is C$1.55.

About Zentek

Zentek Ltd., together with its subsidiaries, engages in the research and development of graphene and related nanomaterials in Canada. The company develops graphene-based antimicrobial coating under the ZenGUARD brand, surgical masks, HVAC filters, personal protective equipment, rapid detection point of care diagnostics tests, and pharmaceutical products based on graphene-based compounds.

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