Graphite One (CVE:GPH) Trading Down 20.2% – What’s Next?

Graphite One Inc. (CVE:GPH)’s stock price dropped 20.2% during trading on Thursday . The company traded as low as C$1.44 and last traded at C$1.62. Approximately 1,717,677 shares changed hands during mid-day trading, an increase of 814% from the average daily volume of 187,935 shares. The stock had previously closed at C$2.03.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$2.85 price objective on Graphite One and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Graphite One has an average rating of “Buy” and an average target price of C$2.85.

Graphite One Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 0.33. The firm has a fifty day simple moving average of C$0.95 and a 200 day simple moving average of C$0.88. The company has a market cap of C$260.91 million, a price-to-earnings ratio of -27.00 and a beta of 1.40.

About Graphite One

Graphite One Inc operates as mineral exploration company in the United States. The company holds interest in the Graphite Creek property that consists of 135 mining claims located on the Seward Peninsula, Alaska. The company was formerly known as Graphite One Resources Inc and changed its name to Graphite One Inc in February 2019.