Zentek Ltd. (NASDAQ:ZTEK) Short Interest Update

Zentek Ltd. (NASDAQ:ZTEK) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 608,141 shares, a growth of 61.0% from the August 15th total of 377,645 shares. Based on an average daily volume of 206,773 shares, the short-interest ratio is currently 2.9 days. Currently, 0.5% of the company’s stock are sold short.

Zentek Price Performance

Shares of NASDAQ ZTEK opened at $0.49 on Thursday. The firm has a market cap of $62.30 million, a PE ratio of -7.03 and a beta of 0.40. The company has a current ratio of 4.65, a quick ratio of 4.54 and a debt-to-equity ratio of 0.07. Zentek has a 1-year low of $0.37 and a 1-year high of $1.24. The company has a fifty day moving average price of $0.55 and a 200 day moving average price of $0.56.

Zentek (NASDAQ:ZTEK) last released its earnings results on Friday, August 14th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Zentek had a negative return on equity of 70.93% and a negative net margin of 5,848.76%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Zentek in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Zentek currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ZTEK. Cable Car Capital LP bought a new stake in Zentek in the 2nd quarter valued at approximately $775,000. Periscope Capital Inc. bought a new position in shares of Zentek during the 2nd quarter worth approximately $183,248. TD Waterhouse Canada Inc. grew its stake in shares of Zentek by 865.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 281,680 shares of the company’s stock worth $133,000 after acquiring an additional 252,500 shares in the last quarter. Finally, Cibc World Market Inc. acquired a new stake in shares of Zentek in the second quarter valued at approximately $48,000. 0.77% of the stock is currently owned by institutional investors.

Zentek Company Profile

Zentek Ltd. (NASDAQ: ZTEK) is a Canadian nanotechnology company that develops and commercializes advanced materials and technology solutions. Its work is centered on graphene and other nanomaterials, with applications in healthcare, air filtration, surface protection and industrial products.

The company’s product portfolio has included ZENGuard, an antimicrobial coating designed for use in protective equipment and air-filtration systems. Zentek has also developed graphene-enhanced filtration products and technologies intended to improve the capture and inactivation of airborne contaminants.