Short Interest in ZKH Group Limited (NYSE:ZKH) Increases By 24.6%

ZKH Group Limited (NYSE:ZKH) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 39,000 shares, an increase of 24.6% from the October 15th total of 31,300 shares. Based on an average daily volume of 80,200 shares, the short-interest ratio is presently 0.5 days. Currently, 0.0% of the shares of the stock are sold short.

ZKH Group Stock Performance

Shares of ZKH stock traded up $0.05 on Friday, reaching $3.85. 13,134 shares of the company were exchanged, compared to its average volume of 71,467. ZKH Group has a one year low of $2.62 and a one year high of $21.91. The company has a 50-day moving average of $3.51 and a 200-day moving average of $5.07. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.80 and a quick ratio of 1.61.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On ZKH Group

Large investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board increased its stake in shares of ZKH Group by 1,546.3% in the second quarter. Canada Pension Plan Investment Board now owns 10,618,516 shares of the company’s stock worth $41,412,000 after purchasing an additional 9,973,516 shares in the last quarter. XTX Topco Ltd bought a new position in ZKH Group in the 2nd quarter worth approximately $81,000. Finally, State Street Corp purchased a new position in ZKH Group in the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors 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.