Zentek (NASDAQ:ZTEK) Stock Price Up 2.3% - Time to Buy?

Zentek Ltd. (NASDAQ:ZTEK - Get Free Report) rose 2.3% during trading on Monday . The company traded as high as $0.90 and last traded at $0.88. Approximately 50,934 shares traded hands during trading, an increase of 20% from the average daily volume of 42,498 shares. The stock had previously closed at $0.86.

Zentek Stock Down 4.0%

The stock has a market capitalization of $92.67 million, a P/E ratio of -14.75 and a beta of 0.46. The stock's 50 day simple moving average is $1.27 and its 200 day simple moving average is $1.20. The company has a current ratio of 1.25, a quick ratio of 1.00 and a debt-to-equity ratio of 0.01.

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

Hedge Funds Weigh In On Zentek

Hedge funds have recently made changes to their positions in the business. Anson Funds Management LP purchased a new position in shares of Zentek in the fourth quarter worth approximately $145,000. Scotia Capital Inc. lifted its stake in shares of Zentek by 5.7% in 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. Finally, Two Sigma Securities LLC bought a new position in Zentek during the fourth quarter worth $31,000. Institutional investors and hedge funds 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.