Zentek Ltd. (NASDAQ:ZTEK) Sees Significant Decrease in Short Interest

Zentek Ltd. (NASDAQ:ZTEK) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 193,500 shares, a drop of 27.3% from the January 15th total of 266,200 shares. Based on an average daily volume of 54,700 shares, the short-interest ratio is presently 3.5 days. Approximately 0.2% of the company’s shares are sold short.

Institutional Trading of Zentek

A hedge fund recently raised its stake in Zentek stock. Scotia Capital Inc. grew its position in Zentek Ltd. (NASDAQ:ZTEK) by 5.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 958,771 shares of the company’s stock after buying an additional 51,744 shares during the quarter. Scotia Capital Inc. owned 0.92% of Zentek worth $867,000 as of its most recent SEC filing. 0.77% of the stock is currently owned by institutional investors.

Zentek Stock Up 3.7 %

Zentek stock opened at $1.13 on Friday. The company has a market cap of $117.64 million, a P/E ratio of -14.13 and a beta of 0.98. Zentek has a 1-year low of $0.50 and a 1-year high of $1.35. The company has a fifty day simple moving average of $1.05 and a 200 day simple moving average of $0.94. The company has a current ratio of 2.06, a quick ratio of 1.63 and a debt-to-equity ratio of 0.01.

Zentek (NASDAQ:ZTEK) last released its earnings results on Wednesday, February 12th. The company reported ($0.01) earnings per share for the quarter. Zentek had a negative net margin of 27,217.24% and a negative return on equity of 53.99%.

About Zentek

Zentek Ltd., together with its subsidiaries, engages in the research and development of graphene and related nanomaterials in Canada. The company develops graphene-based antimicrobial coating under the ZenGUARD brand, surgical masks, HVAC filters, personal protective equipment, rapid detection point of care diagnostics tests, and pharmaceutical products based on graphene-based compounds.