ZKH Group Limited (NYSE:ZKH) Short Interest Up 24.6% in October

ZKH Group Limited (NYSE:ZKH) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 39,000 shares, a growth of 24.6% from the October 15th total of 31,300 shares. Based on an average trading volume of 80,200 shares, the short-interest ratio is presently 0.5 days. Approximately 0.0% of the company’s stock are sold short.

ZKH Group Price Performance

ZKH stock traded up $0.05 during midday trading on Friday, reaching $3.85. 13,134 shares of the company’s stock traded hands, compared to its average volume of 71,467. The firm’s fifty day moving average price is $3.51 and its 200-day moving average price is $5.07. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.61 and a current ratio of 1.80. 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 earnings results on Thursday, August 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.09). The firm had revenue of $309.61 million for the quarter.

Institutional Trading of ZKH Group

Several institutional investors have recently made changes to their positions in the company. State Street Corp purchased a new position in shares of ZKH Group in the 3rd quarter worth about $45,000. XTX Topco Ltd purchased a new position in shares of ZKH Group in the 2nd quarter worth about $81,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of ZKH Group by 1,546.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,618,516 shares of the company’s stock worth $41,412,000 after buying an additional 9,973,516 shares during the last quarter. Institutional investors own 9.52% of the company’s stock.

Analysts Set New Price Targets

Separately, CICC Research began coverage on shares of ZKH Group in a research note on Monday, September 30th. They set an “outperform” rating and a $4.00 price target for the company.

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.