ZEEKR Intelligent Technology (NYSE:ZK) Trading Up 4.7% – Here’s What Happened

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) traded up 4.7% on Tuesday . The stock traded as high as $23.29 and last traded at $23.03. 77,311 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 754,769 shares. The stock had previously closed at $22.00.

Analysts Set New Price Targets

ZK has been the subject of several research reports. Macquarie started 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. Citigroup started coverage on ZEEKR Intelligent Technology in a report on Monday, June 24th. They set a “buy” rating and a $32.40 price objective for the company. Finally, Bank of America reduced their target price on shares of ZEEKR Intelligent Technology from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $32.08.

ZEEKR Intelligent Technology Stock Performance

The firm has a 50 day moving average price of $18.84.

ZEEKR Intelligent Technology (NYSE:ZK) last announced its quarterly earnings results on Wednesday, August 21st. The company reported ($1.31) EPS for the quarter. The business had revenue of $2.76 billion for the quarter. On average, equities research analysts forecast that ZEEKR Intelligent Technology Holding Limited will post -2.2 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in ZEEKR Intelligent Technology during the 2nd quarter worth $31,236,000. Point72 Asset Management L.P. acquired a new position in shares of ZEEKR Intelligent Technology in the 2nd quarter valued at approximately $20,388,000. Westwood Holdings Group Inc. acquired a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter worth approximately $1,288,000. Prudential PLC bought a new position in ZEEKR Intelligent Technology in the second quarter valued at approximately $4,194,000. Finally, Lighthouse Investment Partners LLC acquired a new position in ZEEKR Intelligent Technology during the second quarter valued at approximately $2,736,000.

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.