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

Zentek Ltd. (NASDAQ:ZTEK - Get Free Report) was the target of a significant decline in short interest in 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. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 45,300 shares, the short-interest ratio is currently 1.3 days.

Institutional Trading of Zentek

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Securities LLC acquired a new stake in Zentek during the fourth quarter worth about $31,000. Scotia Capital Inc. raised its stake in shares of 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 purchasing an additional 51,744 shares in the last quarter. Finally, Anson Funds Management LP bought a new position in Zentek in the fourth quarter worth $145,000. 0.77% of the stock is currently owned by institutional investors and hedge funds.

Zentek Stock Performance

Shares of NASDAQ ZTEK traded down $0.04 during trading hours on Friday, hitting $1.13. 38,359 shares of the company's stock were exchanged, compared to its average volume of 38,701. The stock has a market capitalization of $117.96 million, a price-to-earnings ratio of -16.14 and a beta of 1.30. The company's 50-day moving average price is $1.06 and its 200-day moving average price is $0.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.83 and a quick ratio of 1.48. Zentek has a 1-year low of $0.50 and a 1-year high of $1.31.

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

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.