ZEEKR Intelligent Technology (NYSE:ZK) Shares Down 5.4% – Here’s Why

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s stock price traded down 5.4% during mid-day trading on Thursday . The stock traded as low as $21.32 and last traded at $21.50. 331,663 shares traded hands during trading, a decline of 62% from the average session volume of 878,195 shares. The stock had previously closed at $22.72.

Analyst Ratings Changes

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

ZEEKR Intelligent Technology Trading Up 1.4 %

The business’s 50-day moving average price is $22.95.

ZEEKR Intelligent Technology (NYSE:ZK) last released its quarterly earnings results on Wednesday, August 21st. The company reported ($1.31) EPS for the quarter. The business had revenue of $2.76 billion for the quarter. As a group, equities research analysts forecast that ZEEKR Intelligent Technology Holding Limited will post -1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sandia Investment Management LP acquired a new position in ZEEKR Intelligent Technology in the second quarter valued at about $94,000. Barclays PLC raised its stake in shares of ZEEKR Intelligent Technology by 28.5% in the third quarter. Barclays PLC now owns 9,456 shares of the company’s stock worth $211,000 after acquiring an additional 2,097 shares during the last quarter. Green Alpha Advisors LLC bought a new position in shares of ZEEKR Intelligent Technology in the third quarter worth about $219,000. Marshall Wace LLP bought a new position in shares of ZEEKR Intelligent Technology in the second quarter worth about $347,000. Finally, WT Asset Management Ltd bought a new position in shares of ZEEKR Intelligent Technology in the third quarter worth 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.