Stock Buyback Program Approved by ZKH Group (NYSE:ZKH)

ZKH Group (NYSE:ZKH) declared that its board has approved a stock repurchase program on Friday, June 13th, RTT News reports. The company plans to buyback $0.00 in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

ZKH Group Trading Up 1.3%

NYSE ZKH opened at $3.12 on Friday. The stock has a market capitalization of $405.70 million, a PE ratio of -8.91 and a beta of 0.10. The company has a quick ratio of 1.62, a current ratio of 1.81 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $2.93 and a two-hundred day moving average of $3.33. ZKH Group has a 52 week low of $2.50 and a 52 week high of $4.50.

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.