ZEEKR Intelligent Technology (NYSE:ZK) Trading 6.7% Higher – Here’s Why

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s share price traded up 6.7% during trading on Wednesday . The stock traded as high as $22.70 and last traded at $22.34. 405,123 shares were traded during trading, a decline of 54% from the average session volume of 878,051 shares. The stock had previously closed at $20.94.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America dropped their price objective 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. Macquarie began coverage on ZEEKR Intelligent Technology in a report on Thursday, October 3rd. They set an “outperform” rating and a $33.00 target price for the company. Finally, CICC Research began coverage on ZEEKR Intelligent Technology in a report on Friday, October 25th. They set an “outperform” rating and a $31.74 target price for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $32.02.

ZEEKR Intelligent Technology Stock Down 2.9 %

The business has a fifty day moving average price of $22.82.

ZEEKR Intelligent Technology (NYSE:ZK) last announced its quarterly earnings data on Wednesday, August 21st. The company reported ($1.31) earnings per share for the quarter. The firm had revenue of $2.76 billion during the quarter. As a group, equities analysts expect that ZEEKR Intelligent Technology Holding Limited will post -1.79 earnings per share for the current year.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

Several hedge funds have recently modified their holdings of ZK. Sandia Investment Management LP bought a new position in shares of ZEEKR Intelligent Technology in the 2nd quarter valued at about $94,000. Barclays PLC grew its holdings in shares of ZEEKR Intelligent Technology by 28.5% in the 3rd quarter. Barclays PLC now owns 9,456 shares of the company’s stock valued at $211,000 after acquiring an additional 2,097 shares in the last quarter. Green Alpha Advisors LLC bought a new position in shares of ZEEKR Intelligent Technology in the 3rd quarter valued at about $219,000. Marshall Wace LLP bought a new position in shares of ZEEKR Intelligent Technology in the 2nd quarter valued at about $347,000. Finally, WT Asset Management Ltd acquired a new stake in ZEEKR Intelligent Technology in the 3rd quarter valued at about $446,000.

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.