Graphano Energy (CVE:GEL) Shares Up 23.3% – Time to Buy?

Graphano Energy Ltd. (CVE:GEL)’s share price shot up 23.3% during mid-day trading on Saturday . The stock traded as high as C$0.19 and last traded at C$0.19. 164,244 shares traded hands during mid-day trading, an increase of 409% from the average session volume of 32,272 shares. The stock had previously closed at C$0.15.

Graphano Energy Trading Up 23.3%

The firm’s 50-day moving average price is C$0.10 and its two-hundred day moving average price is C$0.09. The stock has a market cap of C$3.18 million, a PE ratio of -2.56 and a beta of -0.42.

About Graphano Energy

Graphano Energy Ltd., a mining company, focuses on the evaluating, acquiring, and developing graphite resources in Canada. The company holds a 100% interest in the Lac Aux Bouleaux Graphite property located in Quebec; and Dudley and Lac Vert-Bouthillier graphite project. It also holds an option agreement to acquire 100% interest in the Standard Graphite Mine.