Syrah Resources (ASX:SYR) Stock Price Passes Below Fifty Day Moving Average of $0.88

Syrah Resources Ltd (ASX:SYR) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.88 and traded as low as $0.68. Syrah Resources shares last traded at $0.70, with a volume of 2,743,373 shares trading hands.

The company has a debt-to-equity ratio of 1.26, a quick ratio of 4.78 and a current ratio of 5.02. The firm has a 50 day simple moving average of A$0.88 and a two-hundred day simple moving average of A$1.10. The firm has a market capitalization of $241.01 million and a P/E ratio of -7.53.

In other Syrah Resources news, insider James (Jim) Askew purchased 150,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average cost of A$0.83 ($0.59) per share, with a total value of A$124,500.00 ($88,297.87). Also, insider Shaun Verner 180,470 shares of the firm’s stock in a transaction on Tuesday, May 28th.

About Syrah Resources (ASX:SYR)

Syrah Resources Limited, together with its subsidiaries, engages in the exploration, evaluation, and development of mineral properties in Mozambique. Its principal project is the Balama Graphite and Vanadium project located in the Cabo Delgado province of northern Mozambique. The company also produces spherical graphite through downstream strategy, which is used to manufacture anodes for lithium ion batteries; and natural graphite recarburisers that are used in the steel making and iron casting industries.

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