Zentek (CVE:ZEN) Shares Up 41.8% - Time to Buy?

Key Points

• Zentek Ltd. experienced a remarkable 41.8% increase in its stock price, reaching C$1.70 during trading, and closed at C$1.29 after previously closing at C$0.91.
• The trading volume surged to 407,343 shares, marking a significant increase of 752% compared to its average session volume of 47,792 shares.
• Zentek's market capitalization stands at C$135.08 million with a negative price-to-earnings ratio of -16.13, indicating ongoing financial challenges despite the stock price surge.

Zentek Ltd. (CVE:ZEN - )'s stock price shot up 41.8% during trading on Tuesday . The stock traded as high as C$1.70 and last traded at C$1.29. 407,343 shares changed hands during mid-day trading, an increase of 752% from the average session volume of 47,792 shares. The stock had previously closed at C$0.91.

Zentek Stock Performance

The stock has a market capitalization of C$135.08 million, a price-to-earnings ratio of -16.13 and a beta of 0.57. The company's fifty day simple moving average is C$1.24 and its 200 day simple moving average is C$1.58. The company has a quick ratio of 7.59, a current ratio of 2.06 and a debt-to-equity ratio of 4.97.

Zentek Company Profile

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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