ZenaTech (NASDAQ:ZENA) Trading Down 9.5% – What’s Next?

Shares of ZenaTech, Inc. (NASDAQ:ZENA) traded down 9.5% on Friday . The stock traded as low as $4.48 and last traded at $4.55. 1,902,406 shares were traded during mid-day trading, an increase of 44% from the average session volume of 1,317,472 shares. The stock had previously closed at $5.03.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of ZenaTech in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.00.

ZenaTech Price Performance

The company’s 50-day moving average is $3.53 and its 200-day moving average is $4.52. The firm has a market capitalization of $102.38 million, a price-to-earnings ratio of -11.67 and a beta of 14.16.

ZenaTech (NASDAQ:ZENA) last posted its quarterly earnings results on Tuesday, November 11th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.14). The business had revenue of $3.16 million for the quarter, compared to the consensus estimate of $3.09 million.

Hedge Funds Weigh In On ZenaTech

Hedge funds and other institutional investors have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of ZenaTech in the third quarter valued at about $604,000. Vident Advisory LLC acquired a new position in shares of ZenaTech during the third quarter worth $534,000. DNB Asset Management AS grew its holdings in ZenaTech by 194.9% during the 3rd quarter. DNB Asset Management AS now owns 145,470 shares of the company’s stock valued at $698,000 after purchasing an additional 96,141 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in ZenaTech during the 3rd quarter worth $144,000. Finally, Virtu Financial LLC purchased a new position in ZenaTech in the 3rd quarter valued at about $135,000.

About ZenaTech

ZenaTech, Inc, an enterprise software technology company, develops cloud-based software applications in Canada. It provides cryptocurrency wallets and cloud-based enterprise software solutions for the agriculture industry; cloud-based enterprise software solutions for the medical records industry; safety and compliance management software and mobile solutions; field management software and mobile solutions; integrated cloud-based enterprise software and hardware drone technology solutions for various industries; and browser-based enterprise software applications for public safety.