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

ZKH Group Limited Unsponsored ADR (NYSE:ZKH) gapped down before the market opened on Wednesday . The stock had previously closed at $3.12, but opened at $3.01. ZKH Group shares last traded at $3.0970, with a volume of 10,270 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of ZKH Group to a “hold” rating in a research note on Saturday, January 3rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

ZKH Group Stock Performance

The company has a quick ratio of 1.60, a current ratio of 1.79 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $511.40 million, a PE ratio of -24.23 and a beta of 0.06. The business has a 50 day simple moving average of $3.40 and a 200 day simple moving average of $3.21.

ZKH Group (NYSE:ZKH) last posted its quarterly earnings data on Thursday, March 19th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). The company had revenue of $365.51 million for the quarter, compared to analyst estimates of $351.68 million. ZKH Group had a negative net margin of 1.54% and a negative return on equity of 4.64%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boundless Plain Holdings Ltd acquired a new stake in shares of ZKH Group during the fourth quarter worth $8,825,000. FIL Ltd increased its position in shares of ZKH Group by 26.0% in the 4th quarter. FIL Ltd now owns 7,621,884 shares of the company’s stock valued at $28,049,000 after acquiring an additional 1,572,957 shares during the period. Jain Global LLC purchased a new position in ZKH Group in the 3rd quarter worth $238,000. Invesco Ltd. purchased a new position in ZKH Group in the 4th quarter worth $291,000. Finally, Renaissance Technologies LLC lifted its position in ZKH Group by 442.1% during the 4th quarter. Renaissance Technologies LLC now owns 91,500 shares of the company’s stock worth $337,000 after acquiring an additional 74,621 shares during the period. Hedge funds and other institutional investors own 9.52% of the company’s stock.

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. It also engages in the production and sale of intelligent warehousing equipment. ZKH Group Limited was founded in 1998 and is based in Shanghai, the People’s Republic of China.