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

Zentek Ltd. (NASDAQ:ZTEK) was the target of a large 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. Based on an average trading volume of 45,300 shares, the short-interest ratio is currently 1.3 days. Currently, 0.1% of the shares of the stock are sold short.

Zentek Stock Performance

NASDAQ ZTEK opened at $1.17 on Thursday. The company’s 50 day simple moving average is $1.06 and its two-hundred day simple moving average is $0.95. 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. The stock has a market capitalization of $122.14 million, a PE ratio of -16.71 and a beta of 1.30.

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

Institutional Inflows and Outflows

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

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.