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

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s share price traded up 3.4% on Monday . The stock traded as high as $23.50 and last traded at $23.17. 287,958 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 877,246 shares. The stock had previously closed at $22.40.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ZK shares. CICC Research initiated coverage on ZEEKR Intelligent Technology in a research note on Friday, October 25th. They set an “outperform” rating and a $31.74 price target for the company. Macquarie began coverage on shares of ZEEKR Intelligent Technology in a research note on Thursday, October 3rd. They set an “outperform” rating and a $33.00 price objective for the company. Finally, 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 research note on Thursday, August 22nd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $32.02.

ZEEKR Intelligent Technology Price Performance

The business’s fifty day moving average price is $22.95.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

Hedge funds have recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new position in ZEEKR Intelligent Technology in the second quarter valued at $31,236,000. Point72 Asset Management L.P. purchased a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter worth about $20,388,000. Millennium Management LLC acquired a new stake in ZEEKR Intelligent Technology during the 2nd quarter worth approximately $17,478,000. Prudential PLC purchased a new position in ZEEKR Intelligent Technology in the second quarter valued at approximately $4,194,000. Finally, Polymer Capital Management HK LTD acquired a new position in ZEEKR Intelligent Technology during the third quarter valued at approximately $3,836,000.

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.