ZEEKR Intelligent Technology (NYSE:ZK) Shares Gap Down – What’s Next?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $23.36, but opened at $22.66. ZEEKR Intelligent Technology shares last traded at $22.14, with a volume of 173,780 shares.

Wall Street Analysts Forecast Growth

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

ZEEKR Intelligent Technology Stock Down 2.6 %

The business’s 50 day simple moving average is $23.11 and its 200 day simple moving average is $20.77.

Institutional Trading of ZEEKR Intelligent Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in ZEEKR Intelligent Technology by 28.5% in the 3rd quarter. Barclays PLC now owns 9,456 shares of the company’s stock worth $211,000 after buying an additional 2,097 shares during the period. Renaissance Capital LLC grew its stake in ZEEKR Intelligent Technology by 20.0% in the third quarter. Renaissance Capital LLC now owns 22,696 shares of the company’s stock worth $506,000 after purchasing an additional 3,789 shares in the last quarter. Sandia Investment Management LP purchased a new position in ZEEKR Intelligent Technology during the 2nd quarter worth $94,000. Green Alpha Advisors LLC bought a new stake in ZEEKR Intelligent Technology during the 3rd quarter valued at $219,000. Finally, HITE Hedge Asset Management LLC grew 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 worth $1,074,000 after buying an additional 16,564 shares in 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.