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

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

ZKH Group Trading Up 1.3%

ZKH Group stock opened at $3.12 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.62. ZKH Group has a one year low of $2.50 and a one year high of $4.31. The company has a market cap of $505.14 million, a price-to-earnings ratio of -8.91 and a beta of 0.10. The firm has a 50-day moving average of $2.93 and a 200-day moving average of $3.33.

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.