Zentek Ltd. (NASDAQ:ZTEK – Get Rating) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 16,000 shares, a growth of 66.7% from the May 15th total of 9,600 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 25,100 shares, the days-to-cover ratio is currently 0.6 days.
Zentek Trading Up 2.5 %
Shares of Zentek stock opened at $1.64 on Tuesday. The stock’s fifty day moving average price is $1.57 and its 200-day moving average price is $1.57. The firm has a market cap of $163.23 million, a P/E ratio of -12.62 and a beta of 0.85. Zentek has a 12 month low of $1.28 and a 12 month high of $2.43.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZTEK. Royal Bank of Canada bought a new position in shares of Zentek in the 1st quarter worth $247,000. Bank of Montreal Can bought a new position in Zentek in the first quarter worth about $199,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Zentek in the 1st quarter valued at about $32,000. JPMorgan Chase & Co. purchased a new position in shares of Zentek in the 1st quarter worth approximately $25,000. Finally, Scotia Capital Inc. grew its position in shares of Zentek by 3.6% in the 1st quarter. Scotia Capital Inc. now owns 494,601 shares of the company’s stock worth $754,000 after buying an additional 17,103 shares during the last quarter. 0.71% of the stock is currently owned by institutional investors.
Zentek Company Profile
Zentek Ltd. is an emerging high-tech nano-graphite and graphene materials company. It focuses on the development of Albany Graphite Deposit project. The company was founded on July 29, 2008 and is headquartered in Thunder Bay, Canada.