ZenaTech (NASDAQ:ZENA) Shares Down 2.1% – Time to Sell?

ZenaTech, Inc. (NASDAQ:ZENA)’s stock price dropped 2.1% on Thursday . The company traded as low as $1.41 and last traded at $1.42. Approximately 1,237,883 shares traded hands during trading, a decline of 53% from the average session volume of 2,625,825 shares. The stock had previously closed at $1.45.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ZENA. Maxim Group dropped their price objective on shares of ZenaTech from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Wall Street Zen downgraded ZenaTech from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 11th. Litchfield Hills Research initiated coverage on ZenaTech in a report on Monday, June 8th. They set a “buy” rating and a $4.00 target price for the company. Weiss Ratings cut ZenaTech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. Finally, Zacks Research raised ZenaTech to a “hold” rating in a report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.50.

ZenaTech Trading Down 2.1%

The firm’s fifty day moving average price is $1.64 and its 200-day moving average price is $2.49. The company has a market cap of $31.95 million, a price-to-earnings ratio of -1.00 and a beta of 7.07. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.64 and a quick ratio of 2.47.

ZenaTech (NASDAQ:ZENA) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.20). The company had revenue of $6.04 million for the quarter, compared to analyst estimates of $4.53 million. On average, equities analysts expect that ZenaTech, Inc. will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ZENA. DNB Asset Management AS increased its stake in shares of ZenaTech by 35.5% in the fourth quarter. DNB Asset Management AS now owns 197,138 shares of the company’s stock valued at $631,000 after purchasing an additional 51,668 shares during the period. SEB Asset Management AB acquired a new position in shares of ZenaTech during the first quarter worth approximately $345,000. 683 Capital Management LLC acquired a new position in shares of ZenaTech during the fourth quarter worth approximately $410,000. OMERS ADMINISTRATION Corp bought a new position in ZenaTech in the 4th quarter worth approximately $387,000. Finally, Vident Advisory LLC bought a new position in ZenaTech in the 3rd quarter worth approximately $534,000.

ZenaTech Company Profile

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.