ZKH Group Limited Unsponsored ADR (NYSE:ZKH) Sees Large Increase in Short Interest

Key Points

• ZKH Group Limited saw a substantial increase in short interest, growing by 164.3% from mid-July to the end of July, with a total of 44,400 shares shorted.
• The company has initiated a share repurchase plan, indicating that management may believe the stock is currently undervalued.
• As of the latest reports, 9.52% of ZKH Group's stock is owned by institutional investors and hedge funds, reflecting ongoing interest from larger investors.

ZKH Group Limited Unsponsored ADR (NYSE:ZKH - Get Free Report) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 44,400 shares, agrowthof164.3% from the July 15th total of 16,800 shares. Based on an average daily volume of 165,500 shares, the days-to-cover ratio is presently 0.3 days. Currently,0.0% of the shares of the stock are short sold. Currently,0.0% of the shares of the stock are short sold. Based on an average daily volume of 165,500 shares, the days-to-cover ratio is presently 0.3 days.

ZKH Group Price Performance

Shares of ZKH traded up $0.12 during mid-day trading on Friday, hitting $3.03. 45,047 shares of the company traded hands, compared to its average volume of 474,275. The business has a 50-day moving average of $3.07 and a 200 day moving average of $3.18. ZKH Group has a one year low of $2.50 and a one year high of $4.10. The stock has a market capitalization of $489.75 million, a price-to-earnings ratio of -14.40 and a beta of 0.37. The company has a current ratio of 1.96, a quick ratio of 1.71 and a debt-to-equity ratio of 0.05.

ZKH Group declared that its board has initiated a share repurchase plan on Friday, June 13th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. acquired a new position in ZKH Group in the fourth quarter valued at about $299,000. Jane Street Group LLC acquired a new position in ZKH Group in the first quarter valued at about $66,000. Finally, XTX Topco Ltd acquired a new position in ZKH Group in the second quarter valued at about $33,000. 9.52% of the stock is owned by institutional investors and hedge funds.

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.

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