CICC Research Initiates Coverage on ZKH Group (NYSE:ZKH)

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

ZKH Group Stock Down 3.3 %

NYSE 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 business’s 50-day moving average price is $3.06 and its 200 day moving average price is $7.71. ZKH Group has a twelve month low of $2.62 and a twelve month high of $21.91.

ZKH Group (NYSE:ZKH) last released 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 firm had revenue of $309.61 million during the quarter.

ZKH Group declared that its board has approved a stock buyback program on Thursday, June 13th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ZKH Group stock. XTX Topco Ltd acquired a new position in shares of ZKH Group Limited (NYSE:ZKH) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 20,650 shares of the company’s stock, valued at approximately $81,000. Institutional investors and hedge funds own 9.52% of the company’s 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.