ZKH Group (NYSE:ZKH) Shares Down 3.1% – Here’s Why

ZKH Group Limited (NYSE:ZKH)’s share price dropped 3.1% on Wednesday . The stock traded as low as $3.61 and last traded at $3.70. Approximately 311,995 shares changed hands during trading, an increase of 225% from the average daily volume of 95,870 shares. The stock had previously closed at $3.82.

Analyst Ratings Changes

Separately, CICC Research started coverage on ZKH Group in a report on Monday, September 30th. They issued an “outperform” rating and a $4.00 price objective on the stock.

ZKH Group Stock Up 0.3 %

The firm’s 50 day simple moving average is $3.33 and its 200 day simple moving average is $6.23. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.61 and a current ratio of 1.80.

ZKH Group (NYSE:ZKH) last posted its earnings results on Thursday, August 22nd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.09). The company had revenue of $309.61 million during the quarter.

Institutional Trading of ZKH Group

An institutional investor recently raised its position in ZKH Group stock. Canada Pension Plan Investment Board boosted its holdings in shares of ZKH Group Limited (NYSE:ZKH) by 1,546.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,618,516 shares of the company’s stock after purchasing an additional 9,973,516 shares during the quarter. Canada Pension Plan Investment Board owned approximately 8.30% of ZKH Group worth $41,412,000 at the end of the most recent reporting period. 9.52% of the stock is owned by institutional investors and hedge funds.

ZKH Group Company Profile

ZKH Group Limited develops and operates a maintenance, repair, and operating (MRO) products trading and service platform that offers spare parts, chemicals, manufacturing parts, general consumables, and office supplies in the People’s Republic of China. The company provides MRO procurement and management services; digitalized MRO procurement solutions; and logistics and warehousing services.