Zentek Ltd. (NASDAQ:ZTEK – Free Report) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 11,300 shares, a decrease of 29.4% from the May 31st total of 16,000 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 21,300 shares, the days-to-cover ratio is presently 0.5 days.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new stake in shares of Zentek during the 1st quarter worth $25,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Zentek during the 1st quarter worth about $32,000. Bank of Montreal Can acquired a new stake in shares of Zentek during the 1st quarter worth about $199,000. Royal Bank of Canada bought a new position in shares of Zentek in the first quarter worth about $247,000. Finally, Scotia Capital Inc. raised its stake in shares of Zentek by 3.6% in the first quarter. Scotia Capital Inc. now owns 494,601 shares of the company’s stock worth $754,000 after acquiring an additional 17,103 shares during the last quarter. Institutional investors and hedge funds own 0.67% of the company’s stock.
Zentek Stock Performance
Zentek stock opened at $1.57 on Monday. The firm has a market cap of $156.26 million, a PE ratio of -12.08 and a beta of 0.85. The firm’s 50 day moving average price is $1.57 and its two-hundred day moving average price is $1.55. Zentek has a twelve month low of $1.28 and a twelve month high of $2.43.
Zentek Company Profile
Zentek Ltd. engages in the research and development of graphene and related nanomaterials in Canada. It owns 100% interest in the Albany Graphite project located in Northern Ontario, 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 compound.