ZKH Group (NYSE:ZKH) Shares Down 3.1% - Here's Why

ZKH Group Limited (NYSE:ZKH - Get Free Report) shares were down 3.1% on Wednesday . The stock traded as low as $3.61 and last traded at $3.70. Approximately 311,995 shares were traded during trading, an increase of 225% from the average daily volume of 95,870 shares. The stock had previously closed at $3.82.

Wall Street Analysts Forecast Growth

Separately, CICC Research initiated coverage on shares of ZKH Group in a research report on Monday, September 30th. They set an "outperform" rating and a $4.00 price target for the company.

ZKH Group Trading Down 1.6 %

The company has a current ratio of 1.80, a quick ratio of 1.61 and a debt-to-equity ratio of 0.04. The company's fifty day simple moving average is $3.32 and its 200 day simple moving average is $6.25.

ZKH Group (NYSE:ZKH - Get Free Report) last announced its quarterly earnings results on Thursday, August 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.09). The firm had revenue of $309.61 million for the quarter.

Institutional Investors Weigh In On ZKH Group

A hedge fund recently bought a new stake in ZKH Group stock. XTX Topco Ltd purchased a new stake in shares of ZKH Group Limited (NYSE:ZKH - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,650 shares of the company's stock, valued at approximately $81,000. 9.52% of the stock is owned by institutional investors.

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.