ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) Short Interest Down 23.7% in August

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 544,400 shares, a decline of 23.7% from the August 15th total of 713,100 shares. Based on an average daily volume of 456,300 shares, the days-to-cover ratio is currently 1.2 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Citigroup initiated coverage on shares of ZEEKR Intelligent Technology in a research note on Monday, June 24th. They issued a “buy” rating and a $32.40 target price for the company. 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. The Goldman Sachs Group initiated coverage on shares of ZEEKR Intelligent Technology in a research note on Tuesday, June 4th. They issued a “buy” rating and a $34.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of ZEEKR Intelligent Technology in a report on Thursday, June 6th. They issued a “buy” rating and a $35.00 price target for the company.

ZEEKR Intelligent Technology Price Performance

Shares of ZK stock traded down $0.37 on Friday, hitting $15.98. 234,544 shares of the stock were exchanged, compared to its average volume of 482,731. The business has a 50-day moving average of $16.67. ZEEKR Intelligent Technology has a fifty-two week low of $13.00 and a fifty-two week high of $32.24.

ZEEKR Intelligent Technology (NYSE:ZK) last posted its quarterly earnings data on Wednesday, August 21st. The company reported ($1.31) EPS for the quarter. The firm had revenue of $2.76 billion for the quarter. Equities analysts expect that ZEEKR Intelligent Technology will post -2.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Sandia Investment Management LP bought a new position in shares of ZEEKR Intelligent Technology in the second quarter valued at about $94,000. Marshall Wace LLP bought a new position in ZEEKR Intelligent Technology in the 2nd quarter valued at about $347,000. HITE Hedge Asset Management LLC acquired a new stake in ZEEKR Intelligent Technology during the second quarter worth approximately $596,000. Westwood Holdings Group Inc. acquired a new stake in ZEEKR Intelligent Technology during the second quarter worth approximately $1,288,000. Finally, Ghisallo Capital Management LLC bought a new stake in shares of ZEEKR Intelligent Technology during the second quarter worth approximately $1,319,000.

About ZEEKR Intelligent Technology

ZEEKR Intelligent Technology Holding Limited is a battery electric vehicle technology company. Its current product portfolio primarily includes ZEEKR 001, a five-seater, cross-over hatchback; ZEEKR 001 FR, cross-over hatchback; ZEEKR 009, a luxury six-seater MPV; ZEEKR X, a compact SUV and an upscale sedan model.