ZEEKR Intelligent Technology (NYSE:ZK) Shares Down 3.7% – Should You Sell?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s stock price dropped 3.7% during mid-day trading on Thursday . The company traded as low as $26.08 and last traded at $27.33. Approximately 196,820 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 861,966 shares. The stock had previously closed at $28.38.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ZK. CICC Research began coverage on ZEEKR Intelligent Technology in a research report on Friday, October 25th. They set an “outperform” rating and a $31.74 price target on the stock. Macquarie initiated coverage on shares of ZEEKR Intelligent Technology in a research note on Thursday, October 3rd. They issued 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, ZEEKR Intelligent Technology currently has an average rating of “Buy” and a consensus price target of $32.02.

ZEEKR Intelligent Technology Stock Down 4.1 %

The stock’s fifty day moving average price is $26.06 and its 200-day moving average price is $21.26.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

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

ZEEKR Intelligent Technology Company Profile

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.