ZEEKR Intelligent Technology (NYSE:ZK) Trading 3.4% Higher – Here’s Why

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s stock price traded up 3.4% during trading on Monday . The stock traded as high as $23.50 and last traded at $23.17. 287,958 shares traded 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 Analyst Weigh In

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

ZEEKR Intelligent Technology Trading Up 4.3 %

The firm has a 50-day moving average price of $22.95.

Institutional Inflows and Outflows

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

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.