ZEEKR Intelligent Technology (NYSE:ZK) Stock Price Up 3.4% – Here’s Why

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) shot up 3.4% during mid-day trading on Tuesday . The stock traded as high as $27.95 and last traded at $27.92. 156,979 shares were traded during trading, a decline of 82% from the average session volume of 863,731 shares. The stock had previously closed at $27.00.

Analyst Upgrades and Downgrades

ZK has been the topic of several recent analyst reports. Bank of America reduced their target price on ZEEKR Intelligent Technology from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. CICC Research began coverage on ZEEKR Intelligent Technology in a research report on Friday, October 25th. They set an “outperform” rating and a $31.74 target price on the stock. Finally, Macquarie initiated coverage on shares of ZEEKR Intelligent Technology in a report on Thursday, October 3rd. They set an “outperform” rating and a $33.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $32.02.

ZEEKR Intelligent Technology Price Performance

The stock has a 50-day moving average of $24.67 and a 200 day moving average of $20.78.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

Institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new position in shares of ZEEKR Intelligent Technology during the 2nd quarter worth $31,236,000. WT Asset Management Ltd purchased a new position in shares of ZEEKR Intelligent Technology in the third quarter worth $446,000. Point72 Asset Management L.P. acquired a new position in shares of ZEEKR Intelligent Technology during the 2nd quarter valued at about $20,388,000. Westwood Holdings Group Inc. purchased a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter worth approximately $1,288,000. Finally, Prudential PLC acquired a new position in shares of ZEEKR Intelligent Technology during the 2nd quarter valued at $4,194,000.

About ZEEKR Intelligent Technology

ZEEKR Intelligent Technology Holding Limited, an investment holding company, engages in the research and development, production, commercialization, and sale of the electric vehicles and batteries. It offers battery electric passenger vehicles (BEVs) and SUVs. The company also produces and sells electric powertrain and battery packs for electric vehicles, such as motors and electric control systems; and provides automotive related research and development services.