Zentek (NASDAQ:ZTEK) Trading 3.2% Higher – Time to Buy?

Shares of Zentek Ltd. (NASDAQ:ZTEK) shot up 3.2% on Friday . The company traded as high as $0.99 and last traded at $0.98. 20,626 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 38,149 shares. The stock had previously closed at $0.95.

Zentek Stock Performance

The business has a fifty day simple moving average of $1.06 and a two-hundred day simple moving average of $0.95. The company has a quick ratio of 1.48, a current ratio of 1.83 and a debt-to-equity ratio of 0.01. The company has a market cap of $102.21 million, a P/E ratio of -14.00 and a beta of 1.30.

Zentek (NASDAQ:ZTEK) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.01) EPS for the quarter. Zentek had a negative return on equity of 58.13% and a negative net margin of 16,555.32%.

Institutional Trading of Zentek

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZTEK. Anson Funds Management LP bought a new stake in Zentek during the 4th quarter valued at approximately $145,000. Scotia Capital Inc. grew its holdings in Zentek by 5.7% during the 4th quarter. Scotia Capital Inc. now owns 958,771 shares of the company’s stock valued at $867,000 after buying an additional 51,744 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new position in Zentek during the 4th quarter valued at approximately $31,000. Institutional investors own 0.77% of the company’s stock.

Zentek Company Profile

Zentek Ltd., together with its subsidiaries, engages in the research and development of graphene and related nanomaterials in 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 compounds.