ZEEKR Intelligent Technology (NYSE:ZK) Stock Price Down 3.7% – Here’s What Happened

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) was down 3.7% on Thursday . The company traded as low as $26.08 and last traded at $27.33. Approximately 196,820 shares traded 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.

Analysts Set New Price Targets

Several research firms recently weighed in on ZK. 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 for the company. CICC Research initiated coverage on ZEEKR Intelligent Technology in a research report on Friday, October 25th. They set an “outperform” rating and a $31.74 price objective for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ZEEKR Intelligent Technology presently has a consensus rating of “Buy” and an average target price of $32.02.

ZEEKR Intelligent Technology Price Performance

The firm’s 50-day simple moving average is $26.13 and its 200-day simple moving average is $21.36.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. Sandia Investment Management LP purchased a new position in ZEEKR Intelligent Technology in the second quarter valued at about $94,000. Barclays PLC boosted its holdings in shares of ZEEKR Intelligent Technology by 28.5% in the 3rd quarter. Barclays PLC now owns 9,456 shares of the company’s stock valued at $211,000 after buying an additional 2,097 shares in the last quarter. Green Alpha Advisors LLC purchased a new position in shares of ZEEKR Intelligent Technology in the 3rd quarter worth approximately $219,000. Marshall Wace LLP bought a new position in shares of ZEEKR Intelligent Technology during the 2nd quarter worth approximately $347,000. Finally, WT Asset Management Ltd purchased a new stake in ZEEKR Intelligent Technology during the third quarter valued at approximately $446,000.

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.