ZJK Industrial (NASDAQ:ZJK) Stock Price Up 9.2% - Here's Why

Key Points

• ZJK Industrial's shares jumped 9.2% on Monday to an intraday high of $3.09 (last $2.96) as volume surged to 83,532 shares — a 55% increase versus average — following reports of a partnership with NVIDIA.
• Analyst coverage is mixed: Zacks upgraded the stock to a "Hold" while Weiss Ratings reiterated a "Sell (d)", leaving a MarketBeat average rating of "Reduce".
• The company reported $0.03 EPS and $15.7 million in quarterly revenue, its 50‑ and 200‑day moving averages are about $2.03 and $2.23, and several institutional investors (notably Geode) have recently added or initiated positions.

ZJK Industrial Co., Ltd. (NASDAQ:ZJK - Get Free Report)'s stock price rose 9.2% during trading on Monday . The stock traded as high as $3.09 and last traded at $2.96. Approximately 83,532 shares traded hands during trading, an increase of 55% from the average daily volume of 53,756 shares. The stock had previously closed at $2.71.

Analysts Set New Price Targets

ZJK has been the topic of several research analyst reports. Zacks Research upgraded shares of ZJK Industrial to a "hold" rating in a research note on Thursday, March 12th. Weiss Ratings reiterated a "sell (d)" rating on shares of ZJK Industrial in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, ZJK Industrial has an average rating of "Reduce".

ZJK Industrial Stock Performance

The company's 50 day moving average is $2.03 and its 200 day moving average is $2.23.

ZJK Industrial (NASDAQ:ZJK - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.03 EPS for the quarter. The company had revenue of $15.70 million for the quarter. Analysts predict that ZJK Industrial Co., Ltd. will post 0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ZJK Industrial

A number of hedge funds and other institutional investors have recently made changes to their positions in ZJK. Geode Capital Management LLC grew its holdings in shares of ZJK Industrial by 150.0% during the second quarter. Geode Capital Management LLC now owns 42,267 shares of the company's stock worth $164,000 after buying an additional 25,362 shares during the last quarter. State of Wyoming purchased a new position in shares of ZJK Industrial during the second quarter worth about $31,000. Citadel Advisors LLC purchased a new position in shares of ZJK Industrial during the third quarter worth about $52,000. Jane Street Group LLC purchased a new position in shares of ZJK Industrial during the fourth quarter worth about $26,000. Finally, Millennium Management LLC purchased a new position in shares of ZJK Industrial during the fourth quarter worth about $52,000.

ZJK Industrial Company Profile

ZJK Industrial Co Ltd. is a high-tech enterprise specialized in manufacturing and sale of precision fasteners, structural parts and other precision metal parts products applied in a variety of industries, including intelligent electronic equipment, new energy vehicles, aerospace, energy storage systems and liquid cooling systems used in artificial intelligence supercomputers. ZJK Industrial Co Ltd. is based in Shenzhen, China.

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