Short Interest in ZKH Group Limited Unsponsored ADR (NYSE:ZKH) Declines By 70.9%

Key Points

• Short interest in ZKH Group fell 70.9% to 19,163 shares as of August 14, representing 0.0% of shares outstanding and a short-interest ratio of 0.2 days.
• Institutional and hedge-fund activity was mixed, with several firms initiating positions and Renaissance Technologies increasing its stake by 442.1%; institutions and hedge funds own 9.52% of the stock.
• Analyst sentiment remains negative: the stock has a consensus “Sell” rating. ZKH recently traded at $2.93, while its latest quarter included $359.7 million in revenue and $0.04 in earnings per share.

ZKH Group Limited Unsponsored ADR (NYSE:ZKH - Get Free Report) was the target of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 19,163 shares, a drop of 70.9% from the July 30th total of 65,807 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 113,843 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On ZKH Group

Large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new position in ZKH Group in the 2nd quarter valued at about $33,000. Jane Street Group LLC purchased a new stake in ZKH Group during the 1st quarter worth approximately $66,000. Goldman Sachs Group Inc. purchased a new stake in ZKH Group during the 4th quarter worth approximately $106,000. Renaissance Technologies LLC raised its holdings in shares of ZKH Group by 442.1% during the fourth quarter. Renaissance Technologies LLC now owns 91,500 shares of the company's stock valued at $337,000 after acquiring an additional 74,621 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in shares of ZKH Group in the fourth quarter valued at approximately $291,000. 9.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZKH has been the topic of a number of recent research reports. Wall Street Zen downgraded ZKH Group from a "buy" rating to a "hold" rating in a research note on Sunday, June 28th. Weiss Ratings downgraded ZKH Group from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of "Sell".

ZKH Group Price Performance

NYSE ZKH traded up $0.02 during trading hours on Thursday, reaching $2.93. The company's stock had a trading volume of 44,245 shares, compared to its average volume of 160,549. The firm has a market capitalization of $379.99 million, a price-to-earnings ratio of -293.00 and a beta of 0.38. The company's 50-day moving average is $2.74 and its two-hundred day moving average is $2.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.77 and a quick ratio of 1.64. ZKH Group has a 1-year low of $1.92 and a 1-year high of $3.90.

ZKH Group (NYSE:ZKH - Get Free Report) last posted its quarterly earnings data on Friday, August 21st. The company reported $0.04 EPS for the quarter. The business had revenue of $359.70 million during the quarter. ZKH Group had a negative return on equity of 0.06% and a negative net margin of 0.02%.

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.

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