ZKH Group (NYSE:ZKH) Shares Down 2.3% – Should You Sell?

Shares of ZKH Group Limited Unsponsored ADR (NYSE:ZKH) dropped 2.3% on Monday . The stock traded as low as $2.81 and last traded at $2.92. Approximately 100,145 shares were traded during trading, an increase of 33% from the average session volume of 75,184 shares. The stock had previously closed at $2.99.

Wall Street Analyst Weigh In

ZKH has been the subject of several research analyst reports. Weiss Ratings downgraded shares of ZKH Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 4th. Wall Street Zen cut shares of ZKH Group from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

ZKH Group Stock Down 2.3%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.64 and a current ratio of 1.84. The firm has a market capitalization of $378.69 million, a P/E ratio of -36.50 and a beta of 0.55. The stock has a fifty day moving average price of $2.70 and a two-hundred day moving average price of $3.09.

Hedge Funds Weigh In On ZKH Group

A number of hedge funds have recently added to or reduced their stakes in ZKH. Boundless Plain Holdings Ltd bought a new stake in ZKH Group during the fourth quarter valued at $8,825,000. Invesco Ltd. bought a new position in shares of ZKH Group in the 4th quarter worth about $291,000. FIL Ltd lifted its position in shares of ZKH Group by 26.0% in the 4th quarter. FIL Ltd now owns 7,621,884 shares of the company’s stock worth $28,049,000 after buying an additional 1,572,957 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of ZKH Group by 442.1% in the 4th quarter. Renaissance Technologies LLC now owns 91,500 shares of the company’s stock valued at $337,000 after buying an additional 74,621 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of ZKH Group in the 4th quarter valued at about $63,000. Institutional investors and hedge funds 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.