Short Interest in Zentek Ltd. (NASDAQ:ZTEK) Declines By 26.1%

Zentek Ltd. (NASDAQ:ZTEK - Get Free Report) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 72,100 shares, a drop of 26.1% from the April 30th total of 97,500 shares. Based on an average daily trading volume, of 49,100 shares, the short-interest ratio is currently 1.5 days. Approximately 0.1% of the shares of the company are sold short.

Zentek Stock Performance

ZTEK traded down $0.01 during trading on Wednesday, hitting $1.48. The stock had a trading volume of 18,131 shares, compared to its average volume of 43,671. The firm has a market capitalization of $154.93 million, a P/E ratio of -21.14 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.48 and a current ratio of 1.83. Zentek has a twelve month low of $0.50 and a twelve month high of $1.84. The company's 50-day moving average price is $1.36 and its 200 day moving average price is $1.16.

Institutional Trading of Zentek

Several hedge funds and other institutional investors have recently made changes to their positions in ZTEK. Anson Funds Management LP purchased a new position in Zentek during the fourth quarter worth about $145,000. Two Sigma Securities LLC purchased a new stake in Zentek in the 4th quarter valued at approximately $31,000. Finally, Scotia Capital Inc. increased its position in Zentek by 5.7% during the 4th quarter. Scotia Capital Inc. now owns 958,771 shares of the company's stock worth $867,000 after purchasing an additional 51,744 shares during the period. 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.