NextSource Materials (TSE:NEXT) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Shares of NextSource Materials Inc. (TSE:NEXT) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$0.34 and traded as low as C$0.28. NextSource Materials shares last traded at C$0.29, with a volume of 97,594 shares changing hands.

NextSource Materials Stock Up 3.7%

The company has a market cap of C$68.74 million, a price-to-earnings ratio of -1.40 and a beta of -0.02. The company has a current ratio of 0.62, a quick ratio of 0.18 and a debt-to-equity ratio of 109.60. The business has a fifty day moving average of C$0.33 and a two-hundred day moving average of C$0.35.

NextSource Materials (TSE:NEXT) last posted its quarterly earnings data on Friday, May 8th. The company reported C($0.04) earnings per share for the quarter. The company had revenue of C$0.20 million for the quarter. NextSource Materials had a negative return on equity of 109.76% and a negative net margin of 3,596.55%.

NextSource Materials Company Profile

NextSource Materials Inc is a battery materials company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals. The Company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production through Phase 1 mine operations. The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities (BAF) capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner.