ZKH Group (NYSE:ZKH) Trading Down 0.3% - Here's What Happened

Key Points

• ZKH Group's stock price decreased by 0.3%, closing at $2.85, with a significant drop in trading volume, down to approximately 3,502 shares compared to an average of 429,625 shares.
• The company's Board of Directors has authorized a stock repurchase plan, indicating that they may view the stock as undervalued.
• Jane Street Group LLC has recently acquired a new stake in ZKH Group, purchasing 19,674 shares valued at about $66,000, representing a growing interest from institutional investors.

Shares of ZKH Group Limited Unsponsored ADR (NYSE:ZKH - Get Free Report) were down 0.3% during trading on Friday . The company traded as low as $2.85 and last traded at $2.85. Approximately 3,502 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 429,625 shares. The stock had previously closed at $2.86.

ZKH Group Price Performance

The stock has a market cap of $477.56 million, a PE ratio of -14.73 and a beta of 0.37. The firm's fifty day moving average price is $3.00 and its 200 day moving average price is $3.10. The company has a quick ratio of 1.66, a current ratio of 1.90 and a debt-to-equity ratio of 0.05.

ZKH Group announced that its board has approved 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 purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On ZKH Group

An institutional investor recently bought a new position in ZKH Group stock. XTX Topco Ltd acquired a new stake in ZKH Group Limited Unsponsored ADR (NYSE:ZKH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,870 shares of the company's stock, valued at approximately $33,000. Institutional investors own 9.52% of the company's stock.

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.