ZEEKR Intelligent Technology (NYSE:ZK) Shares Up 4.9% – What’s Next?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s share price shot up 4.9% during trading on Wednesday . The stock traded as high as $25.86 and last traded at $25.46. 361,918 shares were traded during mid-day trading, a decline of 58% from the average session volume of 868,477 shares. The stock had previously closed at $24.26.

Analysts Set New Price Targets

Several research firms have commented on ZK. CICC Research began coverage on ZEEKR Intelligent Technology in a report on Friday, October 25th. They issued an “outperform” rating and a $31.74 target price on the stock. Bank of America dropped their target price on ZEEKR Intelligent Technology from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Macquarie started coverage on ZEEKR Intelligent Technology in a report on Thursday, October 3rd. They set an “outperform” rating and a $33.00 price target on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $32.02.

ZEEKR Intelligent Technology Stock Up 2.5 %

The firm has a 50 day moving average price of $24.22 and a 200-day moving average price of $20.71.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new position in ZEEKR Intelligent Technology during the 2nd quarter worth $31,236,000. Point72 Asset Management L.P. purchased a new position in shares of ZEEKR Intelligent Technology in the 2nd quarter valued at $20,388,000. Millennium Management LLC purchased a new position in shares of ZEEKR Intelligent Technology in the 2nd quarter valued at $17,478,000. Prudential PLC purchased a new position in ZEEKR Intelligent Technology during the 2nd quarter worth $4,194,000. Finally, Polymer Capital Management HK LTD purchased a new position in ZEEKR Intelligent Technology during the 3rd quarter worth $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.