Short Interest in Zentek Ltd. (NASDAQ:ZTEK) Declines By 45.1%

Zentek Ltd. (NASDAQ:ZTEK) saw a significant drop in short interest in May. As of May 31st, there was short interest totalling 39,600 shares, a drop of 45.1% from the May 15th total of 72,100 shares. Based on an average daily trading volume, of 45,700 shares, the short-interest ratio is presently 0.9 days. Approximately 0.0% of the shares of the stock are sold short.

Institutional Inflows and Outflows

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

Zentek Price Performance

ZTEK stock opened at $1.43 on Monday. Zentek has a 12-month low of $0.50 and a 12-month high of $1.84. The stock has a 50-day moving average price of $1.42 and a two-hundred day moving average price of $1.18. The company has a current ratio of 1.83, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01. The company has a market cap of $149.70 million, a PE ratio of -20.43 and a beta of 0.56.

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.