Avalon Advanced Materials (TSE:AVL) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Avalon Advanced Materials Inc. (TSE:AVL)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 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 changing hands.

Avalon Advanced Materials Stock Performance

The firm has a market cap of C$54.27 million, a P/E ratio of -7.22 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 company’s 50 day moving average is C$0.07 and its 200 day moving average is C$0.06.

Avalon Advanced Materials (TSE:AVL) last posted its 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%. As a group, equities analysts predict that Avalon Advanced Materials Inc. will post -0.04 earnings per share for the current fiscal 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.