ZJK Industrial (NASDAQ:ZJK) Shares Up 6.3% – Here’s Why

ZJK Industrial Co., Ltd. (NASDAQ:ZJK) shot up 6.3% during mid-day trading on Monday . The company traded as high as $2.10 and last traded at $2.02. 26,278 shares changed hands during trading, an increase of 3% from the average session volume of 25,635 shares. The stock had previously closed at $1.90.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of ZJK Industrial from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

ZJK Industrial Price Performance

The company has a 50-day simple moving average of $2.41 and a 200 day simple moving average of $2.19.

ZJK Industrial (NASDAQ:ZJK) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.03 EPS for the quarter. The firm had revenue of $15.70 million for the quarter. As a group, sell-side analysts forecast that ZJK Industrial Co., Ltd. will post 0.24 earnings per share for the current year.

Institutional Investors Weigh In On ZJK Industrial

Several hedge funds have recently modified their holdings of ZJK. Geode Capital Management LLC grew its position in shares of ZJK Industrial by 150.0% during the 2nd quarter. Geode Capital Management LLC now owns 42,267 shares of the company’s stock valued at $164,000 after acquiring an additional 25,362 shares during the period. Millennium Management LLC acquired a new position in ZJK Industrial in the 4th quarter worth about $52,000. Citadel Advisors LLC purchased a new position in ZJK Industrial during the third quarter worth approximately $52,000. Jane Street Group LLC purchased a new position in ZJK Industrial during the fourth quarter worth approximately $26,000. Finally, State of Wyoming acquired a new stake in ZJK Industrial in the second quarter valued at approximately $31,000.

ZJK Industrial Company Profile

ZJK Industrial Co Ltd. is a high-tech enterprise specialized in manufacturing and sale of precision fasteners, structural parts and other precision metal parts products applied in a variety of industries, including intelligent electronic equipment, new energy vehicles, aerospace, energy storage systems and liquid cooling systems used in artificial intelligence supercomputers. ZJK Industrial Co Ltd. is based in Shenzhen, China.