Zentek Ltd. (NASDAQ:ZTEK) Short Interest Update

Zentek Ltd. (NASDAQ:ZTEK) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 608,141 shares, an increase of 61.0% from the August 15th total of 377,645 shares. Based on an average trading volume of 206,773 shares, the short-interest ratio is currently 2.9 days. Approximately 0.5% of the shares of the stock are short sold.

Zentek Stock Performance

Zentek stock opened at $0.49 on Friday. The firm has a market capitalization of $62.30 million, a P/E ratio of -7.03 and a beta of 0.40. The stock has a fifty day moving average price of $0.55 and a two-hundred day moving average price of $0.56. Zentek has a 52-week low of $0.37 and a 52-week high of $1.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.65 and a quick ratio of 4.54.

Zentek (NASDAQ:ZTEK) last issued its earnings results on Friday, August 14th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. Zentek had a negative net margin of 5,848.76% and a negative return on equity of 70.93%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ZTEK. Cable Car Capital LP acquired a new position in shares of Zentek in the 2nd quarter worth approximately $775,000. Periscope Capital Inc. acquired a new stake in Zentek during the 2nd quarter valued at $183,248. TD Waterhouse Canada Inc. raised its position in Zentek by 865.3% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 281,680 shares of the company’s stock valued at $133,000 after purchasing an additional 252,500 shares during the last quarter. Finally, Cibc World Market Inc. acquired a new position in Zentek in the second quarter worth $48,000. Institutional investors own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Zentek in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

About Zentek

Zentek Ltd. (NASDAQ: ZTEK) is a Canadian nanotechnology company that develops and commercializes advanced materials and technology solutions. Its work is centered on graphene and other nanomaterials, with applications in healthcare, air filtration, surface protection and industrial products.

The company’s product portfolio has included ZENGuard, an antimicrobial coating designed for use in protective equipment and air-filtration systems. Zentek has also developed graphene-enhanced filtration products and technologies intended to improve the capture and inactivation of airborne contaminants.