ZEEKR Intelligent Technology (NYSE:ZK) Shares Gap Up – Time to Buy?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) gapped up prior to trading on Thursday . The stock had previously closed at $25.04, but opened at $26.87. ZEEKR Intelligent Technology shares last traded at $25.07, with a volume of 533,068 shares.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Bank of America decreased their price objective on shares of ZEEKR Intelligent Technology from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. CICC Research assumed coverage on ZEEKR Intelligent Technology in a report on Friday, October 25th. They issued an “outperform” rating and a $31.74 price objective on the stock. Finally, Macquarie assumed coverage on ZEEKR Intelligent Technology in a research note on Thursday, October 3rd. They set an “outperform” rating and a $33.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $32.02.

ZEEKR Intelligent Technology Stock Performance

The stock has a 50-day moving average price of $21.47.

ZEEKR Intelligent Technology (NYSE:ZK) last released its quarterly earnings data on Wednesday, August 21st. The company reported ($1.31) earnings per share for the quarter. The business had revenue of $2.76 billion during the quarter. As a group, research analysts forecast that ZEEKR Intelligent Technology Holding Limited will post -2.2 EPS for the current fiscal year.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

Several institutional investors and hedge funds have recently bought and sold shares of ZK. Sandia Investment Management LP acquired a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter worth approximately $94,000. Green Alpha Advisors LLC purchased a new position in ZEEKR Intelligent Technology in the third quarter worth approximately $219,000. Marshall Wace LLP acquired a new stake in ZEEKR Intelligent Technology during the second quarter worth $347,000. WT Asset Management Ltd purchased a new stake in ZEEKR Intelligent Technology in the third quarter valued at $446,000. Finally, Renaissance Capital LLC lifted its stake in shares of 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.

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.