ZenaTech, Inc. (NASDAQ:ZENA) Short Interest Down 67.4% in September

Key Points

• ZenaTech, Inc. (NASDAQ:ZENA) experienced a significant drop in short interest of 67.4% in September, with total short interest decreasing from 829,200 shares to 270,500 shares.
• Multiple hedge funds have recently taken new positions in ZenaTech, with DNB Asset Management AS leading with an investment of $183,000.
• Brokerages have downgraded the stock's rating, with Wall Street Zen changing it from a "hold" to a "sell", while the average target price remains at $9.00.

ZenaTech, Inc. (NASDAQ:ZENA - Get Free Report) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 270,500 shares, a decrease of 67.4% from the September 15th total of 829,200 shares. Based on an average daily volume of 1,630,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 2.5% of the company's shares are sold short. Approximately 2.5% of the company's shares are sold short. Based on an average daily volume of 1,630,000 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On ZenaTech

A number of hedge funds and other institutional investors have recently modified their holdings of the business. DNB Asset Management AS bought a new position in shares of ZenaTech during the second quarter valued at approximately $183,000. Janney Montgomery Scott LLC bought a new position in shares of ZenaTech during the second quarter valued at approximately $69,000. Geode Capital Management LLC bought a new position in shares of ZenaTech during the second quarter valued at approximately $64,000. Vontobel Holding Ltd. acquired a new stake in ZenaTech in the third quarter valued at approximately $79,000. Finally, XTX Topco Ltd acquired a new stake in ZenaTech in the second quarter valued at approximately $53,000.

Analyst Ratings Changes

A number of brokerages have recently commented on ZENA. Wall Street Zen lowered shares of ZenaTech from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ZenaTech in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $9.00.

ZenaTech Trading Down 8.3%

NASDAQ ZENA opened at $5.32 on Friday. The firm's 50 day moving average price is $5.20 and its 200-day moving average price is $4.08. ZenaTech has a 52-week low of $1.41 and a 52-week high of $12.43.

ZenaTech (NASDAQ:ZENA - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $1.62 million for the quarter.

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.

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