ZKH Group (NYSE:ZKH) Stock Price Down 6.2% – Here’s Why

by · The Markets Daily

ZKH Group Limited (NYSE:ZKH – Get Free Report) traded down 6.2% during mid-day trading on Wednesday . The stock traded as low as $3.00 and last traded at $3.12. 29,364 shares were traded during mid-day trading, a decline of 65% from the average session volume of 83,247 shares. The stock had previously closed at $3.32.

ZKH Group Stock Performance

The company’s fifty day simple moving average is $3.49 and its 200 day simple moving average is $3.58. The stock has a market capitalization of $473.73 million, a P/E ratio of -8.37 and a beta of -0.21. The company has a current ratio of 1.81, a quick ratio of 1.62 and a debt-to-equity ratio of 0.05.

Hedge Funds Weigh In On ZKH Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZKH. State Street Corp bought a new stake in shares of ZKH Group during the 3rd quarter valued at about $45,000. Invesco Ltd. bought a new stake in ZKH Group during the fourth quarter valued at approximately $299,000. Finally, FIL Ltd grew its stake in ZKH Group by 30.0% in the 4th quarter. FIL Ltd now owns 3,845,797 shares of the company’s stock worth $13,499,000 after buying an additional 888,000 shares in the last quarter. 9.52% of the stock is currently owned by hedge funds and other institutional investors.

About ZKH Group

(Get Free Report)

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.

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