Canada Pension Plan Investment Board raised its position in ZKH Group Limited (NYSE:ZKH – Free Report) by 1,546.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,618,516 shares of the company’s stock after purchasing an additional 9,973,516 shares during the quarter. Canada Pension Plan Investment Board owned about 8.30% of ZKH Group worth $41,412,000 as of its most recent SEC filing.
Separately, XTX Topco Ltd acquired a new position in ZKH Group in the 2nd quarter valued at about $81,000. Institutional investors and hedge funds own 9.52% of the company’s stock.
ZKH Group Stock Down 1.3 %
NYSE:ZKH opened at $2.99 on Friday. 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 company’s 50-day moving average is $3.10 and its two-hundred day moving average is $8.59. ZKH Group Limited has a 1-year low of $2.62 and a 1-year high of $21.91.
ZKH Group declared that its Board of Directors has approved a stock repurchase program on Thursday, June 13th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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.
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