ZKH Group (NYSE:ZKH) Trading Down 2.3% – Here’s What Happened

ZKH Group Limited Unsponsored ADR (NYSE:ZKH)’s share price fell 2.3% on Monday . The company traded as low as $2.81 and last traded at $2.92. Approximately 100,145 shares changed hands during trading, an increase of 33% from the average daily volume of 75,184 shares. The stock had previously closed at $2.99.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ZKH shares. Wall Street Zen downgraded ZKH Group from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Weiss Ratings cut ZKH Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

ZKH Group Stock Performance

The stock’s 50-day simple moving average is $2.70 and its 200 day simple moving average is $3.08. The company has a market capitalization of $382.34 million, a PE ratio of -36.85 and a beta of 0.55. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.64 and a current ratio of 1.84.

Hedge Funds Weigh In On ZKH Group

Several large investors have recently bought and sold shares of ZKH. XTX Topco Ltd purchased a new stake in ZKH Group during the 2nd quarter worth about $33,000. Jane Street Group LLC purchased a new position in shares of ZKH Group in the 1st quarter valued at about $66,000. Goldman Sachs Group Inc. purchased a new position in shares of ZKH Group in the 4th quarter valued at about $106,000. Jain Global LLC acquired a new stake in shares of ZKH Group during the 3rd quarter worth about $238,000. Finally, Invesco Ltd. acquired a new stake in shares of ZKH Group during the 4th quarter worth about $291,000. Hedge funds and other institutional investors 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. It also engages in the production and sale of intelligent warehousing equipment. ZKH Group Limited was founded in 1998 and is based in Shanghai, the People’s Republic of China.