Graphite One (CVE:GPH) Shares Up 10% – What’s Next?

Graphite One Inc. (CVE:GPH)’s share price shot up 10% on Wednesday . The company traded as high as C$1.21 and last traded at C$1.21. 129,395 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 222,948 shares. The stock had previously closed at C$1.10.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$2.85 price objective on shares of Graphite One and gave the stock a “buy” rating in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Graphite One has a consensus rating of “Buy” and an average target price of C$2.85.

Graphite One Stock Up 2.7%

The firm has a market capitalization of C$181.99 million, a PE ratio of -18.83 and a beta of 1.34. The company’s fifty day simple moving average is C$1.05 and its 200-day simple moving average is C$0.91. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 0.33.

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.