Shares of ZKH Group Limited (NYSE:ZKH - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $3.10, but opened at $2.98. ZKH Group shares last traded at $3.10, with a volume of 18,823 shares trading hands.
ZKH Group Price Performance
The company has a 50 day moving average of $2.93 and a two-hundred day moving average of $3.33. The firm has a market cap of $494.62 million, a P/E ratio of -8.73 and a beta of 0.10. The company has a quick ratio of 1.62, a current ratio of 1.81 and a debt-to-equity ratio of 0.05.
ZKH Group declared that its Board of Directors has authorized a stock buyback plan on Friday, June 13th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On ZKH Group
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of ZKH Group in the 1st quarter valued at $66,000. Invesco Ltd. acquired a new position in shares of ZKH Group in the 4th quarter valued at $299,000. Finally, FIL Ltd boosted its position in shares of ZKH Group by 30.0% in the 4th quarter. FIL Ltd now owns 3,845,797 shares of the company's stock valued at $13,499,000 after purchasing an additional 888,000 shares during the period. Institutional investors and hedge funds own 9.52% of the company's stock.
About ZKH Group
(
Get Free Report)
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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