Zentek Ltd. (NASDAQ:ZTEK) Sees Large Decline in Short Interest

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

Institutional Investors Weigh In On Zentek

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

Zentek Price Performance

ZTEK opened at $1.13 on Friday. Zentek has a twelve month low of $0.50 and a twelve month high of $1.31. The firm has a market cap of $117.96 million, a price-to-earnings ratio of -16.14 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. The company has a fifty day simple moving average of $1.06 and a 200 day simple moving average of $0.96.

Zentek (NASDAQ:ZTEK) last announced 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 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.