Zentek (CVE:ZEN) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Zentek Ltd. (CVE:ZEN)’s stock price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$0.76 and traded as low as C$0.72. Zentek shares last traded at C$0.73, with a volume of 12,744 shares trading hands.

Analysts Set New Price Targets

Separately, Atrium Research raised shares of Zentek to a “strong-buy” rating in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Zentek has an average rating of “Strong Buy”.

Zentek Trading Up 1.4%

The company has a quick ratio of 7.59, a current ratio of 4.65 and a debt-to-equity ratio of 7.62. The company has a 50-day moving average price of C$0.80 and a 200-day moving average price of C$0.76. The company has a market capitalization of C$92.43 million, a price-to-earnings ratio of -7.30 and a beta of 0.33.

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. It is also developing graphene oxide synthesis and graphene synthesis. In addition, the company owns 100% interest in the Albany graphite project located in Northern Ontario, Canada.