ZKH Group (NYSE:ZKH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ZKH Group (NYSE:ZKH) from a hold rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings lowered ZKH Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

ZKH Group Price Performance

Shares of NYSE ZKH opened at $2.94 on Friday. The firm has a fifty day simple moving average of $2.76 and a 200 day simple moving average of $2.96. ZKH Group has a twelve month low of $1.92 and a twelve month high of $3.90. The company has a quick ratio of 1.59, a current ratio of 1.77 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $381.29 million, a PE ratio of -294.00 and a beta of 0.38.

ZKH Group (NYSE:ZKH) last announced its earnings results on Friday, August 21st. The company reported $0.04 EPS for the quarter. ZKH Group had a negative return on equity of 0.06% and a negative net margin of 0.02%.The company had revenue of $359.70 million for the quarter.

Hedge Funds Weigh In On ZKH Group

Several institutional investors have recently added to or reduced their stakes in the stock. Boundless Plain Holdings Ltd bought a new stake in ZKH Group in the fourth quarter worth about $8,825,000. FIL Ltd grew its position in shares of ZKH Group by 26.0% during the 4th quarter. FIL Ltd now owns 7,621,884 shares of the company’s stock valued at $28,049,000 after acquiring an additional 1,572,957 shares during the period. Jain Global LLC bought a new position in shares of ZKH Group during the 3rd quarter valued at approximately $238,000. Invesco Ltd. purchased a new stake in shares of ZKH Group during the 4th quarter worth approximately $291,000. Finally, Renaissance Technologies LLC increased its stake in shares of ZKH Group by 442.1% during the 4th quarter. Renaissance Technologies LLC now owns 91,500 shares of the company’s stock worth $337,000 after purchasing an additional 74,621 shares during the last quarter. 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. It also engages in the production and sale of intelligent warehousing equipment. ZKH Group Limited was founded in 1998 and is based in Shanghai, the People’s Republic of China.