ZEEKR Intelligent Technology (NYSE:ZK) Trading Up 8.1% – Here’s Why

Shares of ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) rose 8.1% on Thursday . The stock traded as high as $26.23 and last traded at $27.03. Approximately 116,535 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 411,843 shares. The stock had previously closed at $25.01.

Wall Street Analyst Weigh In

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

ZEEKR Intelligent Technology Stock Performance

The stock’s 50-day moving average is $26.65 and its 200 day moving average is $22.21.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZK. Barclays PLC increased its position 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 during the period. Green Alpha Advisors LLC purchased a new position in shares of ZEEKR Intelligent Technology in the third quarter worth about $219,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of ZEEKR Intelligent Technology during the fourth quarter worth about $341,000. Marshall Wace LLP acquired a new position in ZEEKR Intelligent Technology in the 2nd quarter worth approximately $347,000. Finally, WT Asset Management Ltd purchased a new position in ZEEKR Intelligent Technology during the 3rd quarter worth approximately $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.