ZKH Group (NYSE:ZKH) Trading Up 2.7% – Still a Buy?

Shares of ZKH Group Limited (NYSE:ZKH) rose 2.7% during mid-day trading on Tuesday . The company traded as high as $3.45 and last traded at $3.38. Approximately 46,478 shares changed hands during trading, a decline of 44% from the average daily volume of 83,590 shares. The stock had previously closed at $3.29.

ZKH Group Price Performance

The stock has a market cap of $573.98 million, a PE ratio of -10.14 and a beta of -0.15. The company has a 50-day simple moving average of $3.56 and a 200-day simple moving average of $3.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.62.

Institutional Investors Weigh In On ZKH Group

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp acquired a new stake in shares of ZKH Group in the third quarter worth approximately $45,000. Invesco Ltd. acquired a new position in shares of ZKH Group during the fourth quarter worth about $299,000. Finally, FIL Ltd boosted its holdings in ZKH Group by 30.0% in the 4th quarter. FIL Ltd now owns 3,845,797 shares of the company’s stock worth $13,499,000 after acquiring an additional 888,000 shares during the period. 9.52% of the stock is currently owned by hedge funds and other 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.