ZEEKR Intelligent Technology (NYSE:ZK) Trading Up 5.6% – Time to Buy?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) shares rose 5.6% during trading on Friday . The stock traded as high as $23.72 and last traded at $23.69. Approximately 293,927 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 874,138 shares. The stock had previously closed at $22.44.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. CICC Research initiated coverage on ZEEKR Intelligent Technology in a report on Friday, October 25th. They set an “outperform” rating and a $31.74 price target for the company. Macquarie began coverage on 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, Bank of America reduced their price target on shares of ZEEKR Intelligent Technology from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $32.02.

ZEEKR Intelligent Technology Stock Performance

The business has a 50-day simple moving average of $23.50 and a two-hundred day simple moving average of $20.80.

Institutional Trading of ZEEKR Intelligent Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of ZEEKR Intelligent Technology by 28.5% in the 3rd quarter. Barclays PLC now owns 9,456 shares of the company’s stock valued at $211,000 after buying an additional 2,097 shares during the last quarter. Renaissance Capital LLC lifted its stake in ZEEKR Intelligent Technology by 20.0% in the third quarter. Renaissance Capital LLC now owns 22,696 shares of the company’s stock valued at $506,000 after acquiring an additional 3,789 shares during the last quarter. Sandia Investment Management LP bought a new position in shares of ZEEKR Intelligent Technology in the 2nd quarter valued at about $94,000. Green Alpha Advisors LLC acquired a new position in shares of ZEEKR Intelligent Technology during the 3rd quarter worth about $219,000. Finally, HITE Hedge Asset Management LLC lifted its stake in ZEEKR Intelligent Technology by 52.4% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 48,202 shares of the company’s stock valued at $1,074,000 after purchasing an additional 16,564 shares during the last quarter.

ZEEKR Intelligent Technology Company Profile

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.