ZKH Group (NYSE:ZKH) Coverage Initiated by Analysts at CICC Research

Stock analysts at CICC Research initiated coverage on shares of ZKH Group (NYSE:ZKH) in a research note issued on Monday, Benzinga reports. The brokerage set an “outperform” rating and a $4.00 price target on the stock. CICC Research’s target price would indicate a potential upside of 12.04% from the company’s previous close.

ZKH Group Stock Performance

Shares of ZKH opened at $3.57 on Monday. 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 firm has a 50-day moving average price of $3.06 and a 200 day moving average price of $7.71. ZKH Group has a 52-week low of $2.62 and a 52-week high of $21.91.

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

ZKH Group announced that its Board of Directors has authorized a stock buyback plan on Thursday, June 13th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of ZKH Group

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

ZKH Group Company Profile

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.