Avalon Advanced Materials (TSE:AVL) Stock Price Down 30.9% – Here’s Why

Shares of Avalon Advanced Materials Inc. (TSE:AVL) fell 30.9% on Friday . The stock traded as low as C$7.40 and last traded at C$8.15. 135,999 shares traded hands during mid-day trading, an increase of 1,293% from the average session volume of 9,766 shares. The stock had previously closed at C$11.80.

Avalon Advanced Materials Stock Down 29.7%

The stock has a 50-day moving average price of C$7.50 and a 200-day moving average price of C$10.47. The company has a debt-to-equity ratio of 5.71, a current ratio of 1.66 and a quick ratio of 2.13. The company has a market capitalization of C$38.53 million, a P/E ratio of -1.54 and a beta of 0.64.

Avalon Advanced Materials (TSE:AVL) last announced its earnings results on Friday, July 10th. The company reported C($159.84) EPS for the quarter. The company had revenue of C$0.07 million during the quarter. Avalon Advanced Materials had a negative net margin of 48.93% and a negative return on equity of 0.04%. On average, research analysts predict that Avalon Advanced Materials Inc. will post -0.04 EPS 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.