ZKH Group (NYSE:ZKH) Shares Down 6.2% – Time to Sell?

ZKH Group Limited (NYSE:ZKH)’s stock price dropped 6.2% during trading on Wednesday . The company traded as low as $3.00 and last traded at $3.12. Approximately 29,364 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 83,247 shares. The stock had previously closed at $3.32.

ZKH Group Price Performance

The business’s fifty day moving average is $3.49 and its 200 day moving average is $3.58. The company has a market cap of $473.73 million, a P/E ratio of -8.37 and a beta of -0.21. The company has a current ratio of 1.81, a quick ratio of 1.62 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. FIL Ltd increased its holdings 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 acquiring an additional 888,000 shares during the last quarter. Invesco Ltd. purchased a new position in shares of ZKH Group in the fourth quarter worth about $299,000. Finally, State Street Corp bought a new stake in ZKH Group during the 3rd quarter valued at $45,000. Hedge funds and other 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.