ZKH Group (NYSE:ZKH) Receives New Coverage from Analysts at CICC Research

CICC Research assumed coverage on shares of ZKH Group (NYSE:ZKH) in a research note issued to investors on Monday morning, Benzinga reports. The brokerage issued an outperform rating and a $4.00 price target on the stock.

ZKH Group Stock Performance

ZKH Group stock opened at $3.71 on Monday. ZKH Group has a 12-month low of $2.62 and a 12-month high of $21.91. The company has a current ratio of 1.80, a quick ratio of 1.61 and a debt-to-equity ratio of 0.04. The business’s 50-day simple moving average is $3.08 and its 200 day simple moving average is $7.66.

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

ZKH Group announced that its Board of Directors has approved a share repurchase program on Thursday, June 13th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On ZKH Group

A hedge fund recently raised its stake in ZKH Group stock. Canada Pension Plan Investment Board raised its stake in shares of ZKH Group Limited (NYSE:ZKH) by 1,546.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,618,516 shares of the company’s stock after buying an additional 9,973,516 shares during the quarter. Canada Pension Plan Investment Board owned about 8.30% of ZKH Group worth $41,412,000 at the end of the most recent reporting period. 9.52% of the stock is owned by institutional investors and hedge funds.

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.