ZEEKR Intelligent Technology (NYSE:ZK) Trading 7.6% Higher – Here’s Why

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) shares were up 7.6% during trading on Thursday . The stock traded as high as $26.88 and last traded at $27.06. Approximately 251,653 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 428,237 shares. The stock had previously closed at $25.14.

Wall Street Analysts Forecast Growth

Separately, CICC Research assumed coverage on ZEEKR Intelligent Technology in a research report on Friday, October 25th. They set an “outperform” rating and a $31.74 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $32.02.

ZEEKR Intelligent Technology Stock Down 1.9 %

The company’s fifty day moving average price is $27.10 and its 200-day moving average price is $22.54.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

Several hedge funds and other institutional investors have recently modified their holdings of ZK. Polymer Capital Management HK LTD purchased a new stake in ZEEKR Intelligent Technology in the third quarter worth $3,836,000. Renaissance Capital LLC increased its stake in ZEEKR Intelligent Technology by 119.0% in the 4th quarter. Renaissance Capital LLC now owns 49,697 shares of the company’s stock worth $1,410,000 after buying an additional 27,001 shares during the period. HITE Hedge Asset Management LLC lifted its holdings in ZEEKR Intelligent Technology by 52.4% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 48,202 shares of the company’s stock valued at $1,074,000 after buying an additional 16,564 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in ZEEKR Intelligent Technology in the 4th quarter valued at about $910,000. Finally, Y Intercept Hong Kong Ltd bought a new position in ZEEKR Intelligent Technology in the 3rd quarter worth about $605,000.

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.