Zentek (CVE:ZEN) Shares Pass Below 200-Day Moving Average - Should You Sell?

Key Points

• Zentek Ltd. shares fell below their 200-day moving average of C$1.56, trading as low as C$1.27 and closing at C$1.30 with a volume of 104,147 shares.
• The company has a market capitalization of C$136.12 million and a significantly high debt-to-equity ratio of 4.97.
• Zentek's focus is on graphene and related nanomaterials, creating products like antimicrobial coatings, surgical masks, HVAC filters, and rapid diagnostic tests.

Zentek Ltd. (CVE:ZEN - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$1.56 and traded as low as C$1.27. Zentek shares last traded at C$1.30, with a volume of 104,147 shares trading hands.

Zentek Price Performance

The company has a debt-to-equity ratio of 4.97, a quick ratio of 7.59 and a current ratio of 2.06. The firm has a fifty day simple moving average of C$1.16 and a two-hundred day simple moving average of C$1.56. The firm has a market cap of C$136.12 million, a PE ratio of -16.25 and a beta of 0.29.

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.