Avalon Advanced Materials (TSE:AVL) Shares Cross Above 50 Day Moving Average – What’s Next?

Avalon Advanced Materials Inc. (TSE:AVL) shares 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 944,603 shares trading hands.

Avalon Advanced Materials Trading Down 6.7%

The firm has a market capitalization of C$58.44 million, a price-to-earnings ratio of -7.78 and a beta of 1.07. The company has a debt-to-equity ratio of 5.71, a quick ratio of 2.13 and a current ratio of 1.66. The business has a fifty day moving average price of C$0.07 and a 200 day moving average price of C$0.06.

Avalon Advanced Materials (TSE:AVL) last issued its earnings results on Thursday, January 15th. The company reported C$0.00 earnings per share for the quarter. Avalon Advanced Materials had a negative return on equity of 0.04% and a negative net margin of 48.93%. As a group, equities analysts forecast that Avalon Advanced Materials Inc. will post -0.04 earnings per share for the current year.

About Avalon Advanced Materials

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.