Zentek Ltd. (NASDAQ:ZTEK) Short Interest Down 60.3% in March

Zentek Ltd. (NASDAQ:ZTEK) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 58,700 shares, a drop of 60.3% from the February 28th total of 148,000 shares. Based on an average daily volume of 45,300 shares, the short-interest ratio is presently 1.3 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Trading of Zentek

Several hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Securities LLC bought a new stake in Zentek during the 4th quarter valued at $31,000. Anson Funds Management LP purchased a new position in shares of Zentek in the fourth quarter valued at $145,000. Finally, Scotia Capital Inc. raised its stake in shares of Zentek by 5.7% during the 4th quarter. Scotia Capital Inc. now owns 958,771 shares of the company’s stock valued at $867,000 after purchasing an additional 51,744 shares during the period. Institutional investors own 0.77% of the company’s stock.

Zentek Price Performance

Zentek stock opened at $1.17 on Thursday. The business’s 50 day simple moving average is $1.06 and its 200 day simple moving average is $0.95. Zentek has a 12 month low of $0.50 and a 12 month high of $1.31. The company has a market cap of $122.14 million, a price-to-earnings ratio of -16.71 and a beta of 1.30. The company has a current ratio of 1.83, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01.

Zentek (NASDAQ:ZTEK) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.01) EPS for the quarter. Zentek had a negative net margin of 16,555.32% and a negative return on equity of 58.13%.

Zentek Company Profile

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.