ZKH Group (NYSE:ZKH) Stock Price Down 2.5% – Here’s Why

Shares of ZKH Group Limited Unsponsored ADR (NYSE:ZKH) dropped 2.5% on Monday . The stock traded as low as $2.70 and last traded at $2.73. Approximately 86,324 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 123,108 shares. The stock had previously closed at $2.80.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZKH. Wall Street Zen upgraded shares of ZKH Group to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings lowered shares of ZKH Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

ZKH Group Price Performance

The company has a market cap of $354.05 million, a PE ratio of -34.13 and a beta of 0.44. The firm’s 50-day moving average is $2.96 and its 200-day moving average is $3.22. The company has a quick ratio of 1.64, a current ratio of 1.84 and a debt-to-equity ratio of 0.04.

ZKH Group (NYSE:ZKH) last issued its quarterly earnings data on Thursday, March 19th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). The company had revenue of $381.40 million during the quarter, compared to analysts’ expectations of $351.68 million. ZKH Group had a negative return on equity of 2.80% and a negative net margin of 0.90%.

Institutional Investors Weigh In On ZKH Group

Several hedge funds have recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in ZKH Group in the second quarter worth $33,000. Jane Street Group LLC bought a new position in ZKH Group in the first quarter worth $66,000. Goldman Sachs Group Inc. purchased a new position in ZKH Group during the fourth quarter valued at $106,000. Invesco Ltd. bought a new stake in shares of ZKH Group during the 4th quarter valued at $291,000. Finally, Jain Global LLC bought a new stake in shares of ZKH Group during the 3rd quarter valued at $238,000. 9.52% of the stock is currently 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. 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.