ZKH Group (NYSE:ZKH) Shares Up 2.7% – Here’s What Happened

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

ZKH Group Price Performance

The stock’s fifty day moving average is $3.57 and its 200-day moving average is $3.56. The stock has a market capitalization of $548.11 million, a P/E ratio of -9.69 and a beta of -0.15. 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 Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FIL Ltd increased its position 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 buying an additional 888,000 shares during the period. Invesco Ltd. acquired a new stake in shares of ZKH Group in the fourth quarter worth $299,000. Finally, State Street Corp bought a new position in ZKH Group during the third quarter worth $45,000. Institutional investors and hedge funds 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.