ZKH Group (NYSE:ZKH) Shares Gap Down – Here’s Why

ZKH Group Limited Unsponsored ADR (NYSE:ZKH) gapped down before the market opened on Wednesday . The stock had previously closed at $3.12, but opened at $3.01. ZKH Group shares last traded at $3.0970, with a volume of 10,270 shares traded.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded ZKH Group to a “hold” rating in a research note on Saturday, January 3rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

ZKH Group Price Performance

The company has a quick ratio of 1.60, a current ratio of 1.79 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $3.39 and a 200-day moving average of $3.21. The stock has a market capitalization of $495.17 million, a P/E ratio of -23.46 and a beta of 0.06.

ZKH Group (NYSE:ZKH) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The company had revenue of $365.51 million for the quarter, compared to analyst estimates of $351.68 million. ZKH Group had a negative return on equity of 4.64% and a negative net margin of 1.54%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Boundless Plain Holdings Ltd bought a new stake in shares of ZKH Group during the fourth quarter valued at approximately $8,825,000. FIL Ltd increased its position in ZKH Group by 26.0% in the 4th quarter. FIL Ltd now owns 7,621,884 shares of the company’s stock valued at $28,049,000 after acquiring an additional 1,572,957 shares during the period. Jain Global LLC bought a new stake in ZKH Group during the 3rd quarter valued at $238,000. Invesco Ltd. bought a new stake in ZKH Group during the 4th quarter valued at $291,000. Finally, Renaissance Technologies LLC boosted its position in ZKH Group by 442.1% during the 4th quarter. Renaissance Technologies LLC now owns 91,500 shares of the company’s stock worth $337,000 after acquiring an additional 74,621 shares during the period. 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.