ZEEKR Intelligent Technology (NYSE:ZK) Trading Up 5.6% – Time to Buy?

Shares of ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) traded up 5.6% during mid-day trading on Friday . The stock traded as high as $23.72 and last traded at $23.69. Approximately 293,927 shares were traded during mid-day trading, a decline of 66% from the average session volume of 874,138 shares. The stock had previously closed at $22.44.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ZK. 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 on the stock. Macquarie initiated coverage on shares of ZEEKR Intelligent Technology in a research note on Thursday, October 3rd. They set an “outperform” rating and a $33.00 price objective on the stock. Finally, Bank of America decreased their target price on shares of ZEEKR Intelligent Technology from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, ZEEKR Intelligent Technology currently has a consensus rating of “Buy” and an average target price of $32.02.

ZEEKR Intelligent Technology Trading Up 4.4 %

The business has a 50-day simple moving average of $23.64 and a 200-day simple moving average of $20.72.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in ZEEKR Intelligent Technology by 28.5% during the 3rd quarter. Barclays PLC now owns 9,456 shares of the company’s stock worth $211,000 after buying an additional 2,097 shares in the last quarter. Renaissance Capital LLC raised its stake in ZEEKR Intelligent Technology by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 22,696 shares of the company’s stock valued at $506,000 after purchasing an additional 3,789 shares during the last quarter. Sandia Investment Management LP purchased a new position in ZEEKR Intelligent Technology in the 2nd quarter valued at $94,000. Green Alpha Advisors LLC acquired a new stake in ZEEKR Intelligent Technology during the 3rd quarter worth $219,000. Finally, HITE Hedge Asset Management LLC grew its holdings in shares of ZEEKR Intelligent Technology by 52.4% during the third quarter. HITE Hedge Asset Management LLC now owns 48,202 shares of the company’s stock worth $1,074,000 after buying an additional 16,564 shares in the last quarter.

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.