Stock Repurchase Program Approved by ZKH Group (NYSE:ZKH)

ZKH Group (NYSE:ZKH) announced that its board has approved a stock buyback plan on Friday, June 13th, RTT News reports. The company plans to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

ZKH Group Trading Up 1.3%

NYSE:ZKH opened at $3.12 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.62 and a current ratio of 1.81. The firm has a market cap of $505.14 million, a price-to-earnings ratio of -8.91 and a beta of 0.10. ZKH Group has a 52 week low of $2.50 and a 52 week high of $4.31. The firm has a 50-day moving average price of $2.93 and a two-hundred day moving average price of $3.33.

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.