ZEEKR Intelligent Technology (NYSE:ZK) Trading 6.7% Higher – Here’s Why

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s stock price rose 6.7% during mid-day trading on Wednesday . The stock traded as high as $22.70 and last traded at $22.34. Approximately 405,123 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 878,051 shares. The stock had previously closed at $20.94.

Wall Street Analyst Weigh In

ZK has been the subject of several recent analyst reports. Bank of America cut their target price on shares of ZEEKR Intelligent Technology from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Macquarie initiated coverage on shares of ZEEKR Intelligent Technology in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $33.00 target price for the company. Finally, CICC Research started coverage on shares of ZEEKR Intelligent Technology in a research note on Friday, October 25th. They issued an “outperform” rating and a $31.74 target price for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $32.02.

ZEEKR Intelligent Technology Trading Down 2.9 %

The company’s 50-day moving average is $22.82.

ZEEKR Intelligent Technology (NYSE:ZK) last released its quarterly earnings results on Wednesday, August 21st. The company reported ($1.31) earnings per share for the quarter. The firm had revenue of $2.76 billion for the quarter. On average, equities research analysts expect that ZEEKR Intelligent Technology Holding Limited will post -1.79 EPS for the current fiscal year.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Prudential PLC bought a new position in ZEEKR Intelligent Technology in the second quarter valued at approximately $4,194,000. Westwood Holdings Group Inc. bought a new position in ZEEKR Intelligent Technology in the second quarter valued at approximately $1,288,000. Marshall Wace LLP bought a new position in ZEEKR Intelligent Technology in the second quarter valued at approximately $347,000. Sandia Investment Management LP bought a new position in ZEEKR Intelligent Technology in the second quarter valued at approximately $94,000. Finally, Point72 Asset Management L.P. bought a new position in ZEEKR Intelligent Technology in the second quarter valued at approximately $20,388,000.

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.