Short Interest in Zentek Ltd. (NASDAQ:ZTEK) Grows By 36.3%

Zentek Ltd. (NASDAQ:ZTEK - Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 80,000 shares, an increase of 36.3% from the March 15th total of 58,700 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 42,000 shares, the days-to-cover ratio is presently 1.9 days.

Zentek Stock Performance

Zentek stock traded up $0.01 during trading hours on Wednesday, hitting $1.15. The stock had a trading volume of 13,144 shares, compared to its average volume of 38,724. Zentek has a fifty-two week low of $0.50 and a fifty-two week high of $1.31. The company has a market cap of $120.05 million, a PE ratio of -16.43 and a beta of 0.93. The company has a 50-day moving average of $1.04 and a two-hundred day moving average of $1.00. The company has a quick ratio of 1.48, a current ratio of 1.83 and a debt-to-equity ratio of 0.01.

Zentek (NASDAQ:ZTEK - Get Free Report) last released 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 16,555.32% and a negative return on equity of 58.13%.

Institutional Investors Weigh In On Zentek

Hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Securities LLC bought a new position in Zentek in the fourth quarter valued at about $31,000. Anson Funds Management LP acquired a new position in Zentek during the 4th quarter valued at about $145,000. Finally, Scotia Capital Inc. boosted its stake in shares of 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 purchasing an additional 51,744 shares during the last quarter. 0.77% of the stock is owned by institutional investors and hedge funds.

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.