Avalon Advanced Materials (TSE:AVL) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Avalon Advanced Materials Inc. (TSE:AVL) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$0.07 and traded as high as C$0.08. Avalon Advanced Materials shares last traded at C$0.07, with a volume of 619,098 shares trading hands.

Avalon Advanced Materials Stock Performance

The stock’s 50-day moving average is C$0.07 and its 200-day moving average is C$0.06. The stock has a market cap of C$54.27 million, a price-to-earnings ratio of -7.22 and a beta of 1.07. The company has a current ratio of 1.66, a quick ratio of 2.13 and a debt-to-equity ratio of 5.71.

Avalon Advanced Materials (TSE:AVL) last announced its quarterly earnings results on Friday, November 28th. The company reported C$0.01 earnings per share for the quarter. Avalon Advanced Materials had a negative net margin of 48.93% and a negative return on equity of 0.04%. On average, analysts expect that Avalon Advanced Materials Inc. will post -0.04 EPS for the current year.

Avalon Advanced Materials Company Profile

Avalon Advanced Materials Inc is a Canadian critical minerals company advancing the supply of materials essential for Canadas future. The Company is focused on developing strategic assets that support secure, domestic supply chains and long-term economic growth. Avalon is focused on vertically integrating the Ontario lithium supply chain through the development of Lake Superior Lithium Inc, Ontarios first midstream lithium hydroxide processing facility, located in Thunder Bay. This facility will serve as a vital link between northern Ontarios lithium resources and the growing EV battery manufacturing base in southern Ontario and North America.