Short Interest in Zentek Ltd. (NASDAQ:ZTEK) Declines By 27.3%

Zentek Ltd. (NASDAQ:ZTEK - Get Free Report) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 193,500 shares, a decrease of 27.3% from the January 15th total of 266,200 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 54,700 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Investors Weigh In On Zentek

A number of institutional investors and hedge funds have recently modified their holdings of ZTEK. Two Sigma Securities LLC acquired a new stake in shares of Zentek during the fourth quarter worth $31,000. Anson Funds Management LP acquired a new stake in shares of Zentek during the fourth quarter worth $145,000. Finally, Scotia Capital Inc. raised its position in shares of 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. 0.77% of the stock is owned by institutional investors and hedge funds.

Zentek Price Performance

Shares of Zentek stock traded up $0.04 during trading on Monday, hitting $1.17. The stock had a trading volume of 48,428 shares, compared to its average volume of 49,134. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.06 and a quick ratio of 1.63. The firm has a market cap of $121.78 million, a P/E ratio of -14.62 and a beta of 0.98. The business has a fifty day moving average of $1.06 and a two-hundred day moving average of $0.94. Zentek has a fifty-two week low of $0.50 and a fifty-two week high of $1.34.

Zentek (NASDAQ:ZTEK - Get Free Report) last announced its quarterly earnings data 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.