ZKH Group Limited (NYSE:ZKH) Short Interest Up 24.6% in October

ZKH Group Limited (NYSE:ZKH) was the target of a significant growth in short interest in 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. Based on an average daily trading volume, of 80,200 shares, the short-interest ratio is presently 0.5 days. Approximately 0.0% of the company’s shares are short sold.

Institutional Trading of ZKH Group

A number of hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in ZKH Group during the second quarter worth about $81,000. Canada Pension Plan Investment Board grew its holdings in shares of 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 purchasing an additional 9,973,516 shares during the last quarter. Finally, State Street Corp bought a new stake in shares of ZKH Group during the 3rd quarter valued at approximately $45,000. Institutional investors and hedge funds own 9.52% of the company’s stock.

ZKH Group Stock Up 1.3 %

Shares of ZKH stock traded up $0.05 during trading hours on Friday, hitting $3.85. 13,134 shares of the company were exchanged, compared to its average volume of 71,467. ZKH Group has a 52 week low of $2.62 and a 52 week high of $21.91. The business has a 50 day moving average of $3.51 and a two-hundred day moving average of $5.07. The company has a quick ratio of 1.61, a current ratio of 1.80 and a debt-to-equity ratio of 0.04.

ZKH Group (NYSE:ZKH) last announced its quarterly earnings results on Thursday, August 22nd. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09). The business had revenue of $309.61 million for the quarter.

Wall Street Analyst Weigh In

Separately, CICC Research began coverage on shares of ZKH Group in a report on Monday, September 30th. They issued an “outperform” rating and a $4.00 price objective on the 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.