Short Interest in Zentek Ltd. (NASDAQ:ZTEK) Decreases By 27.3%

Zentek Ltd. (NASDAQ:ZTEK) was the target of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 193,500 shares, a drop of 27.3% from the January 15th total of 266,200 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 54,700 shares, the short-interest ratio is currently 3.5 days.

Zentek Price Performance

Shares of NASDAQ:ZTEK opened at $1.17 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.06 and a quick ratio of 1.63. The stock’s 50-day simple moving average is $1.05 and its two-hundred day simple moving average is $0.94. Zentek has a 52-week low of $0.50 and a 52-week high of $1.34.

Zentek (NASDAQ:ZTEK) last announced its earnings results on Wednesday, February 12th. The company reported ($0.01) earnings per share (EPS) for the quarter. Zentek had a negative return on equity of 53.99% and a negative net margin of 27,217.24%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Zentek stock. Scotia Capital Inc. lifted its stake in Zentek Ltd. (NASDAQ:ZTEK) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 958,771 shares of the company’s stock after buying an additional 51,744 shares during the quarter. Scotia Capital Inc. owned about 0.92% of Zentek worth $867,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 0.77% of the company’s stock.

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.