ZEEKR Intelligent Technology (NYSE:ZK) Shares Up 3.4% – Still a Buy?

Shares of ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) shot up 3.4% on Monday . The stock traded as high as $23.50 and last traded at $23.17. 287,958 shares were traded 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.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. CICC Research assumed coverage on 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. Bank of America reduced their price objective on shares of 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. Finally, Macquarie started coverage on shares of ZEEKR Intelligent Technology in a research note on Thursday, October 3rd. They set an “outperform” rating and a $33.00 target price on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $32.02.

ZEEKR Intelligent Technology Price Performance

The firm’s 50-day moving average is $23.38 and its 200-day moving average is $20.79.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

A number of hedge funds have recently added to or reduced their stakes in ZK. Sandia Investment Management LP purchased a new position in ZEEKR Intelligent Technology during the 2nd quarter worth $94,000. Barclays PLC boosted its holdings in ZEEKR Intelligent Technology by 28.5% during the third quarter. Barclays PLC now owns 9,456 shares of the company’s stock worth $211,000 after purchasing an additional 2,097 shares during the last quarter. Green Alpha Advisors LLC bought a new stake in ZEEKR Intelligent Technology in the 3rd quarter worth about $219,000. Marshall Wace LLP purchased a new stake in ZEEKR Intelligent Technology in the 2nd quarter valued at about $347,000. Finally, WT Asset Management Ltd bought a new position in shares of 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.