Zentek Ltd. (NASDAQ:ZTEK) Sees Significant Decrease in Short Interest

Zentek Ltd. (NASDAQ:ZTEK) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 72,100 shares, a drop of 26.1% from the April 30th total of 97,500 shares. Based on an average daily volume of 49,100 shares, the short-interest ratio is currently 1.5 days. Approximately 0.1% of the company’s shares are short sold.

Zentek Stock Up 2.0%

Zentek stock opened at $1.50 on Friday. The company has a market capitalization of $157.03 million, a PE ratio of -21.43 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.48 and a current ratio of 1.83. Zentek has a fifty-two week low of $0.50 and a fifty-two week high of $1.84. The firm has a 50 day moving average price of $1.35 and a 200 day moving average price of $1.16.

Institutional Inflows and Outflows

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

Zentek Company Profile

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.