ZKH Group Limited (NYSE:ZKH) Sees Significant Increase in Short Interest

ZKH Group Limited (NYSE:ZKH - Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 39,000 shares, a growth of 24.6% from the October 15th total of 31,300 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 80,200 shares, the days-to-cover ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

Separately, CICC Research started coverage on shares of ZKH Group in a report on Monday, September 30th. They set an "outperform" rating and a $4.00 price objective on the stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. State Street Corp acquired a new position in shares of ZKH Group during the 3rd quarter worth about $45,000. XTX Topco Ltd purchased a new stake in ZKH Group during the 2nd quarter valued at about $81,000. Finally, Canada Pension Plan Investment Board grew its stake in ZKH Group by 1,546.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 10,618,516 shares of the company's stock valued at $41,412,000 after acquiring an additional 9,973,516 shares in the last quarter. Institutional investors and hedge funds own 9.52% of the company's stock.

ZKH Group Stock Up 1.3 %

NYSE ZKH traded up $0.05 on Friday, reaching $3.85. 13,134 shares of the company's stock traded hands, compared to its average volume of 92,647. The stock has a 50 day moving average price of $3.50 and a 200-day moving average price of $5.17. ZKH Group has a fifty-two week low of $2.62 and a fifty-two week high of $21.91. The company has a current ratio of 1.80, a quick ratio of 1.61 and a debt-to-equity ratio of 0.04.

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

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.