Zentek (NASDAQ:ZTEK) Stock Price Down 2.8% – Time to Sell?

Shares of Zentek Ltd. (NASDAQ:ZTEK) dropped 2.8% during trading on Monday . The company traded as low as $1.52 and last traded at $1.54. Approximately 41,009 shares were traded during trading, a decline of 5% from the average daily volume of 43,323 shares. The stock had previously closed at $1.59.

Zentek Trading Down 3.2%

The business has a fifty day moving average price of $1.33 and a 200 day moving average price of $1.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.83 and a quick ratio of 1.48. The company has a market capitalization of $159.12 million, a price-to-earnings ratio of -21.71 and a beta of 0.73.

Institutional Trading of Zentek

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

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.