Zentek Ltd. (NASDAQ:ZTEK) Short Interest Update

Key Points

• Zentek Ltd. experienced a dramatic increase in short interest of 2,396.4% in July, rising from 2,800 to 69,900 shares, with a short-interest ratio of 1.3 days.
• Institutional ownership remains low with hedge funds collectively holding only 0.77% of Zentek’s shares, although several institutions, like Anson Funds Management, have made recent investments.
• Zentek reported a quarterly earnings loss of ($0.01) per share along with a revenue of $0.57 million, corresponding to a negative net margin of 1,186.72%.

Zentek Ltd. (NASDAQ:ZTEK - Get Free Report) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 69,900 shares, agrowthof2,396.4% from the June 30th total of 2,800 shares. Based on an average daily trading volume, of 54,500 shares, the short-interest ratio is presently 1.3 days. Approximately0.1% of the company's stock are short sold. Approximately0.1% of the company's stock are short sold. Based on an average daily trading volume, of 54,500 shares, the short-interest ratio is presently 1.3 days.

Institutional Trading of Zentek

Several hedge funds and other institutional investors have recently modified their holdings of ZTEK. Anson Funds Management LP acquired a new position in Zentek during the fourth quarter worth approximately $145,000. Two Sigma Securities LLC acquired a new position in Zentek during the fourth quarter worth approximately $31,000. Finally, Scotia Capital Inc. increased its position in Zentek by 5.7% during the fourth quarter. Scotia Capital Inc. now owns 958,771 shares of the company's stock worth $867,000 after buying an additional 51,744 shares during the last quarter. Institutional investors and hedge funds own 0.77% of the company's stock.

Zentek Price Performance

Shares of ZTEK stock traded down $0.06 during trading hours on Friday, hitting $0.82. The company had a trading volume of 46,802 shares, compared to its average volume of 46,015. Zentek has a 12 month low of $0.50 and a 12 month high of $1.84. The firm has a market capitalization of $86.18 million, a price-to-earnings ratio of -13.72 and a beta of 0.46. The firm's fifty day moving average is $1.22 and its 200 day moving average is $1.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.00 and a current ratio of 1.25.

Zentek (NASDAQ:ZTEK - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The company reported ($0.01) earnings per share for the quarter. The company had revenue of $0.57 million during the quarter. Zentek had a negative net margin of 1,186.72% and a negative return on equity of 58.87%.

About Zentek

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.

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