ZEEKR Intelligent Technology (NYSE:ZK) Trading Down 9.4% – Time to Sell?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s share price dropped 9.4% during mid-day trading on Friday . The stock traded as low as $28.80 and last traded at $29.25. Approximately 321,962 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 863,068 shares. The stock had previously closed at $32.30.

Analyst Ratings Changes

ZK has been the topic of several recent research reports. Macquarie initiated 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 initiated coverage on ZEEKR Intelligent Technology in a research note on Friday, October 25th. They set an “outperform” rating and a $31.74 price objective on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ZEEKR Intelligent Technology has an average rating of “Buy” and a consensus target price of $32.02.

ZEEKR Intelligent Technology Price Performance

The business’s 50-day simple moving average is $25.57 and its two-hundred day simple moving average is $21.08.

Institutional Trading of ZEEKR Intelligent Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new position in ZEEKR Intelligent Technology during the 2nd quarter worth $31,236,000. Point72 Asset Management L.P. acquired a new stake in ZEEKR Intelligent Technology during the second quarter valued at approximately $20,388,000. Millennium Management LLC bought a new position in ZEEKR Intelligent Technology during the 2nd quarter worth approximately $17,478,000. Prudential PLC acquired a new position in shares of ZEEKR Intelligent Technology in the 2nd quarter worth approximately $4,194,000. Finally, Polymer Capital Management HK LTD bought a new stake in shares of ZEEKR Intelligent Technology in the 3rd quarter valued at approximately $3,836,000.

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.