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

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

Institutional Investors Weigh In On Zentek

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

Zentek Stock Performance

Shares of ZTEK opened at $1.13 on Friday. Zentek has a 1 year low of $0.50 and a 1 year high of $1.31. The company’s 50 day simple moving average is $1.06 and its 200 day simple moving average is $0.96. The company has a market capitalization of $117.96 million, a price-to-earnings ratio of -16.14 and a beta of 1.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.48 and a current ratio of 1.83.

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

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.