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

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

Analysts Set New Price Targets

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

ZKH Group Stock Performance

The company has a quick ratio of 1.61, a current ratio of 1.80 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average is $3.31 and its two-hundred day moving average is $6.26.

ZKH Group (NYSE:ZKH) last issued its quarterly earnings results on Thursday, August 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09). The firm had revenue of $309.61 million during the quarter.

Institutional Investors Weigh In On ZKH Group

An institutional investor recently bought a new position in ZKH Group stock. XTX Topco Ltd purchased a new stake in ZKH Group Limited (NYSE:ZKH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 20,650 shares of the company’s stock, valued at approximately $81,000. 9.52% of the stock is currently owned by institutional investors and hedge funds.

About ZKH Group

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.