ZEEKR Intelligent Technology (NYSE:ZK) Trading Up 7.6% – Still a Buy?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s stock price was up 7.6% on Thursday . The stock traded as high as $26.88 and last traded at $27.06. Approximately 251,653 shares changed hands during trading, a decline of 41% from the average daily volume of 428,237 shares. The stock had previously closed at $25.14.

Wall Street Analyst Weigh In

Separately, CICC Research assumed coverage on shares of ZEEKR Intelligent Technology in a research report on Friday, October 25th. They issued an “outperform” rating and a $31.74 price target for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat, ZEEKR Intelligent Technology presently has a consensus rating of “Buy” and an average target price of $32.02.

ZEEKR Intelligent Technology Stock Down 1.9 %

The stock has a fifty day moving average of $27.10 and a 200 day moving average of $22.54.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP purchased a new stake in shares of ZEEKR Intelligent Technology in the second quarter worth about $347,000. Renaissance Capital LLC increased 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 worth $506,000 after acquiring an additional 3,789 shares during the last quarter. WT Asset Management Ltd purchased a new stake in shares of ZEEKR Intelligent Technology during the 3rd quarter worth approximately $446,000. HITE Hedge Asset Management LLC boosted its position in shares of ZEEKR Intelligent Technology by 52.4% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 48,202 shares of the company’s stock valued at $1,074,000 after acquiring an additional 16,564 shares during the last quarter. Finally, Polymer Capital Management HK LTD purchased a new position in shares of ZEEKR Intelligent Technology in the third quarter valued at $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.