ZJK Industrial (NASDAQ:ZJK) Trading 1.7% Higher – Here’s What Happened

Shares of ZJK Industrial Co., Ltd. (NASDAQ:ZJK) shot up 1.7% on Tuesday . The company traded as high as $2.46 and last traded at $2.38. 11,604 shares traded hands during trading, a decline of 56% from the average session volume of 26,374 shares. The stock had previously closed at $2.34.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ZJK shares. Zacks Research raised shares of ZJK Industrial to a “hold” rating in a report on Thursday, March 12th. Weiss Ratings raised shares of ZJK Industrial from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

ZJK Industrial Trading Up 1.7%

The firm’s fifty day moving average price is $2.53 and its 200-day moving average price is $2.26.

ZJK Industrial (NASDAQ:ZJK) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $15.70 million for the quarter. Sell-side analysts expect that ZJK Industrial Co., Ltd. will post 0.24 EPS for the current year.

Hedge Funds Weigh In On ZJK Industrial

Several hedge funds and other institutional investors have recently modified their holdings of ZJK. Jane Street Group LLC acquired a new position in shares of ZJK Industrial during the fourth quarter valued at $26,000. State of Wyoming acquired a new position in shares of ZJK Industrial during the second quarter valued at $31,000. Millennium Management LLC acquired a new position in shares of ZJK Industrial during the fourth quarter valued at $52,000. Citadel Advisors LLC acquired a new position in shares of ZJK Industrial during the third quarter valued at $52,000. Finally, Geode Capital Management LLC boosted its holdings in shares of ZJK Industrial by 150.0% during the second quarter. Geode Capital Management LLC now owns 42,267 shares of the company’s stock valued at $164,000 after acquiring an additional 25,362 shares during the period.

ZJK Industrial Company Profile

ZJK Industrial Co Ltd. is a high-tech enterprise specialized in manufacturing and sale of precision fasteners, structural parts and other precision metal parts products applied in a variety of industries, including intelligent electronic equipment, new energy vehicles, aerospace, energy storage systems and liquid cooling systems used in artificial intelligence supercomputers. ZJK Industrial Co Ltd. is based in Shenzhen, China.