ZKH Group Limited (NYSE:ZKH) Short Interest Update

ZKH Group Limited (NYSE:ZKH) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 23,800 shares, a drop of 39.0% from the October 31st total of 39,000 shares. Based on an average daily trading volume, of 76,500 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the shares of the stock are sold short.

ZKH Group Price Performance

ZKH stock traded down $0.02 during midday trading on Thursday, reaching $3.42. The stock had a trading volume of 69,070 shares, compared to its average volume of 57,524. ZKH Group has a 52-week low of $2.62 and a 52-week high of $21.91. The company has a market cap of $437.38 million and a price-to-earnings ratio of -9.77. The company’s fifty day simple moving average is $3.63 and its 200 day simple moving average is $4.59. The company has a current ratio of 1.81, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05.

Institutional Trading of ZKH Group

A number of hedge funds and other institutional investors have recently modified their holdings of ZKH. State Street Corp acquired a new stake in shares of ZKH Group in the 3rd quarter worth $45,000. XTX Topco Ltd acquired a new stake in shares of ZKH Group during the 2nd quarter worth about $81,000. Finally, Canada Pension Plan Investment Board increased its position 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 worth $41,412,000 after purchasing an additional 9,973,516 shares during the last quarter. 9.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, CICC Research started coverage on ZKH Group in a research report on Monday, September 30th. They set an “outperform” rating and a $4.00 target price on the stock.

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.