Zentek Ltd. (NASDAQ:ZTEK) Short Interest Up 61.0% in August

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

Wall Street Analyst Weigh In

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

Zentek Stock Performance

Shares of NASDAQ:ZTEK opened at $0.49 on Thursday. The firm’s 50 day simple moving average is $0.55 and its 200 day simple moving average is $0.56. Zentek has a fifty-two week low of $0.37 and a fifty-two week high of $1.24. The company has a market capitalization of $62.30 million, a price-to-earnings ratio of -7.03 and a beta of 0.40. 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 quarterly earnings data on Friday, August 14th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%.

Hedge Funds Weigh In On Zentek

Institutional investors and hedge funds have recently made changes to their positions in the company. Cibc World Market Inc. bought a new stake in shares of Zentek in the 2nd quarter valued at $48,000. TD Waterhouse Canada Inc. raised its stake in Zentek by 865.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 281,680 shares of the company’s stock worth $133,000 after buying an additional 252,500 shares during the period. Periscope Capital Inc. bought a new position in Zentek during the second quarter worth about $183,248. Finally, Cable Car Capital LP acquired a new position in Zentek in the second quarter valued at about $775,000. Institutional investors and hedge funds own 0.77% of the company’s stock.

Zentek Company Profile

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.