Zentek (CVE:ZEN) Stock Price Up 41.8% - Here's Why

Key Points

• Zentek Ltd. shares surged by 41.8% on a single trading day, reaching a high of C$1.70 and closing at C$1.29, significantly up from a previous close of C$0.91.
• Trading volume increased dramatically, with approximately 407,343 shares traded, marking a 752% rise compared to the average daily volume of 47,792 shares.
• The company's market capitalization stands at C$135.08 million, with a price-to-earnings ratio of -16.13 and significant debt indicated by a debt-to-equity ratio of 4.97.

Shares of Zentek Ltd. (CVE:ZEN - Get Free Report) shot up 41.8% during mid-day trading on Tuesday . The company 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 Down 0.9%

The company has a quick ratio of 7.59, a current ratio of 2.06 and a debt-to-equity ratio of 4.97. The company has a market cap of C$121.46 million, a PE ratio of -14.50 and a beta of 0.57. The stock has a 50-day moving average of C$1.22 and a 200-day moving average of C$1.57.

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.