ZenaTech (NASDAQ:ZENA) Stock Price Down 7.3% - What's Next?

Key Points

• ZenaTech's stock price has declined by 7.3%, trading as low as $4.55 during the day, with a volume drop of 63% from its average trading volume.
• Wall Street analysts generally have a positive outlook on ZenaTech, with a consensus rating of "Buy" and a target price of $9.00 per share.
• The company reported a quarterly earnings loss of ($0.14) per share with revenue of $1.62 million.

Shares of ZenaTech, Inc. (NASDAQ:ZENA - Get Free Report) fell 7.3% on Tuesday . The company traded as low as $4.55 and last traded at $4.58. 757,414 shares changed hands during trading, a decline of 63% from the average session volume of 2,052,221 shares. The stock had previously closed at $4.94.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ZENA. Wall Street Zen upgraded ZenaTech from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Maxim Group began coverage on ZenaTech in a research note on Monday, June 16th. They set a "buy" rating and a $9.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, ZenaTech presently has a consensus rating of "Buy" and a consensus target price of $9.00.

ZenaTech Price Performance

The stock has a 50-day moving average of $4.73 and a 200 day moving average of $3.68.

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

Institutional Investors Weigh In On ZenaTech

Several hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in ZenaTech in the 2nd quarter worth approximately $53,000. DNB Asset Management AS purchased a new stake in ZenaTech in the 2nd quarter worth approximately $183,000. Geode Capital Management LLC purchased a new stake in ZenaTech in the 2nd quarter worth approximately $64,000. Janney Montgomery Scott LLC purchased a new stake in ZenaTech in the 2nd quarter worth approximately $69,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in ZenaTech in the 4th quarter worth 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.