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

Zentek Ltd. (NASDAQ:ZTEK) was the recipient of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 148,000 shares, a decrease of 25.1% from the February 13th total of 197,500 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 45,800 shares, the days-to-cover ratio is currently 3.2 days.

Hedge Funds Weigh In On Zentek

A number of institutional investors have recently made changes to their positions in the business. Scotia Capital Inc. grew its holdings in Zentek by 5.7% in the 4th quarter. Scotia Capital Inc. now owns 958,771 shares of the company’s stock valued at $867,000 after buying an additional 51,744 shares during the last quarter. Anson Funds Management LP acquired a new position in shares of Zentek during the fourth quarter worth approximately $145,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Zentek in the fourth quarter valued at approximately $31,000. 0.77% of the stock is currently owned by institutional investors.

Zentek Trading Down 0.0 %

Shares of ZTEK stock opened at $0.92 on Tuesday. Zentek has a 12 month low of $0.50 and a 12 month high of $1.34. The company has a market cap of $95.97 million, a PE ratio of -13.14 and a beta of 1.30. The company has a quick ratio of 1.48, a current ratio of 1.83 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $1.05 and its two-hundred day moving average is $0.95.

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

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.