ZKH Group (NYSE:ZKH) Sees Unusually-High Trading Volume - Here's Why

ZKH Group Limited Unsponsored ADR (NYSE:ZKH - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 74,619 shares changed hands during mid-day trading, an increase of 38% from the previous session's volume of 54,262 shares.The stock last traded at $3.20 and had previously closed at $3.15.

ZKH Group Stock Down 0.3%

The business has a 50-day simple moving average of $3.01 and a two-hundred day simple moving average of $3.28. The company has a market cap of $508.37 million, a price-to-earnings ratio of -14.95 and a beta of 0.36. The company has a quick ratio of 1.71, a current ratio of 1.96 and a debt-to-equity ratio of 0.05.

ZKH Group announced that its Board of Directors has authorized a share repurchase program on Friday, June 13th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Institutional Trading of ZKH Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. acquired a new stake in shares of ZKH Group in the fourth quarter worth about $299,000. FIL Ltd lifted its position in shares of ZKH Group by 30.0% in the fourth quarter. FIL Ltd now owns 3,845,797 shares of the company's stock worth $13,499,000 after buying an additional 888,000 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of ZKH Group in the first quarter worth about $66,000. Institutional investors and hedge funds own 9.52% of the company's stock.

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.