Is This A Much-Needed Relief For ZK International Group Co., Ltd. (ZKIN)?

ZK International Group Co., Ltd. (NASDAQ:ZKIN) recovered 22.4% of its value since hitting low of $1.25. The recent move of 7.87% gain helped the stock to close at $1.53 when trading ended on 02/08/2019. At recent session, the prices were hovering between $1.3 and $1.53. This company shares are -100% up from its target price of $0 and the current market capitalization stands at $25.33M. The recent change has given its price a -5.58% deficit over SMA 50 and -81.57% deficit over its 52-week high. The stock witnessed -16.39% declines, -38.8% declines and -62.68% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found ZKIN’s volatility during a week at 44.38% and during a month it has been found around 14.58%.

Revenue for the fiscal year ended September 30, 2018 totaled $54,884,381, as compared to $44,951,740 for the fiscal year ended September 30, 2017, an increase of 22.1%. The increase in revenue is primarily due to an increase in market share of this industry and more governmental and infrastructural projects Company has taken to replace the underground pipes and to improve local water supply systems.

Net income attributable to ZK International Group Co., Ltd. totaled $7,018,114 for the fiscal year ended September 30, 2018 as compared to $5,874,276 for the same period the year prior. Earnings was $0.52 per basic and $0.51 per diluted share, based on 13,610,046 basic and 13,629,517 diluted weighted average number of shares outstanding.

Foreign currency translation loss for the fiscal year ended September 30, 2018 was $818,468. The currency translation loss was resulted due to the different exchange rates used during financial currency translation. When translating local financial reports of the Company’s subsidiaries into US dollar, assets and liabilities are translated at the exchange rates at the balance sheet date, equity accounts are translated at historical exchange rates and revenue, expenses, gains and losses are translated at the average rate for the period. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive income in the statements of operations and comprehensive income.

As of September 30, 2018, cash and cash equivalents were $7.7 million or $0.47 per share based on 16,528,037 ordinary shares outstanding as of September 30, 2018.

ZK International Group Co., Ltd. 13F Filings

At the end of September reporting period, 1 institutional holders increased their position in ZK International Group Co., Ltd. (NASDAQ:ZKIN) by some 500 shares, 2 decreased positions by 1,038 and held positions by 219. That puts total institutional holdings at 1,757 shares, according to SEC filings. The stock grabbed 1 new institutional investments totaling 500 shares while institutional investors sold out their entire positions totaling shares.