Zentek Ltd. (NASDAQ:ZTEK) Short Interest Up 74.5% in May

Zentek Ltd. (NASDAQ:ZTEK – Get Rating) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 9,600 shares, an increase of 74.5% from the April 30th total of 5,500 shares. Based on an average daily trading volume, of 26,500 shares, the short-interest ratio is currently 0.4 days. Approximately 0.0% of the company’s shares are short sold.

Hedge Funds Weigh In On Zentek

A number of hedge funds have recently made changes to their positions in the stock. Scotia Capital Inc. boosted its position in Zentek by 3.6% in the 1st quarter. Scotia Capital Inc. now owns 494,601 shares of the company’s stock valued at $754,000 after buying an additional 17,103 shares during the period. Royal Bank of Canada acquired a new stake in shares of Zentek in the 1st quarter valued at $247,000. Bank of Montreal Can acquired a new stake in shares of Zentek in the 1st quarter valued at $199,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Zentek in the 1st quarter valued at $32,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Zentek in the 1st quarter valued at $25,000. Hedge funds and other institutional investors own 0.71% of the company’s stock.

Zentek Price Performance

Zentek stock opened at $1.65 on Friday. The stock has a market cap of $164.22 million, a price-to-earnings ratio of -12.69 and a beta of 0.85. The firm has a 50 day simple moving average of $1.54 and a 200-day simple moving average of $1.56. Zentek has a 1-year low of $1.28 and a 1-year high of $2.43.

Zentek Company Profile

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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.