Zentek Ltd. (NASDAQ:ZTEK – Get Rating) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 1,300 shares, a decline of 98.0% from the August 15th total of 63,800 shares. Based on an average trading volume of 23,600 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

Separately, Lake Street Capital assumed coverage on shares of Zentek in a research note on Thursday, June 30th. They set a "buy" rating and a $3.50 price target on the stock.

Hedge Funds Weigh In On Zentek

Institutional investors and hedge funds have recently bought and sold shares of the stock. Scotia Capital Inc. boosted its stake in Zentek by 1.8% during the 2nd quarter. Scotia Capital Inc. now owns 483,735 shares of the company's stock valued at $872,000 after acquiring an additional 8,654 shares during the last quarter. Royal Bank of Canada acquired a new position in shares of Zentek in the 1st quarter worth approximately $247,000. Bank of Montreal Can acquired a new position in shares of Zentek in the 1st quarter worth approximately $199,000. National Bank of Canada FI acquired a new position in shares of Zentek in the first quarter worth about $63,000. Finally, Cutter & CO Brokerage Inc. acquired a new position in shares of Zentek in the second quarter worth about $27,000. Institutional investors and hedge funds own 0.79% of the company's stock.

Zentek Trading Down 4.0 %

Zentek (NASDAQ:ZTEK – Get Rating) last announced its quarterly earnings results on Wednesday, June 29th. The company reported ($0.04) earnings per share (EPS) for the quarter. Zentek had a negative net margin of 1,617.24% and a negative return on equity of 405.71%. The business had revenue of $0.13 million during the quarter.

About Zentek

(Get Rating)

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.

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