Zentek Ltd. (NASDAQ:ZTEK) Sees Large Decline in Short Interest

Zentek Ltd. (NASDAQ:ZTEK) saw a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 39,600 shares, a drop of 45.1% from the May 15th total of 72,100 shares. Based on an average daily volume of 45,700 shares, the short-interest ratio is presently 0.9 days. Currently, 0.0% of the company’s stock are short sold.

Zentek Stock Performance

Shares of ZTEK stock opened at $1.43 on Friday. Zentek has a 12 month low of $0.50 and a 12 month high of $1.84. The company’s fifty day simple moving average is $1.42 and its 200-day simple moving average is $1.18. The firm has a market cap of $149.70 million, a PE ratio of -20.43 and a beta of 0.56. The company has a quick ratio of 1.48, a current ratio of 1.83 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Zentek

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Securities LLC acquired a new position in shares of Zentek during the 4th quarter worth about $31,000. Anson Funds Management LP bought a new stake in Zentek during the fourth quarter worth about $145,000. Finally, Scotia Capital Inc. boosted its position in Zentek by 5.7% during 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 during the last quarter. 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.