ZenaTech (NASDAQ:ZENA) Downgraded by Wall Street Zen to Sell

Key Points

• ZenaTech's stock has been dropped from a "hold" to a "sell" rating by analysts at Wall Street Zen, signaling a bearish outlook for the company's performance.
• Maxim Group has initiated coverage on ZenaTech with a "buy" rating and a price target of $9.00 per share.
• The company reported a loss of $0.14 per share and $1.62 million in revenue during its latest quarterly earnings, indicating ongoing challenges in its financial performance.

ZenaTech (NASDAQ:ZENA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Friday.

Separately, Maxim Group started coverage on ZenaTech in a research report on Monday, June 16th. They set a "buy" rating and a $9.00 price target on the stock. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $9.00.

ZenaTech Trading Up 1.4%

NASDAQ ZENA opened at $5.00 on Friday. The business's 50 day moving average is $4.73 and its two-hundred day moving average is $3.68. ZenaTech has a 12-month low of $1.41 and a 12-month high of $12.43.

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

Hedge Funds Weigh In On ZenaTech

Hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new stake in shares of ZenaTech in the second quarter valued at about $53,000. Geode Capital Management LLC acquired a new position in shares of ZenaTech in the second quarter valued at about $64,000. Janney Montgomery Scott LLC bought a new stake in shares of ZenaTech in the second quarter valued at approximately $69,000. Millennium Management LLC bought a new position in shares of ZenaTech in the fourth quarter worth $88,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of ZenaTech in the 4th quarter valued at approximately $90,000.

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.

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