ZEEKR Intelligent Technology (NYSE:ZK) Trading 3.7% Higher – Here’s Why

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s share price shot up 3.7% during trading on Monday . The company traded as high as $28.88 and last traded at $28.58. 216,665 shares changed hands during trading, a decline of 75% from the average session volume of 862,668 shares. The stock had previously closed at $27.55.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. CICC Research started coverage on ZEEKR Intelligent Technology in a research note on Friday, October 25th. They issued an “outperform” rating and a $31.74 price objective for the company. Macquarie started coverage on ZEEKR Intelligent Technology in a report on Thursday, October 3rd. They set an “outperform” rating and a $33.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, ZEEKR Intelligent Technology has an average rating of “Buy” and a consensus target price of $32.02.

ZEEKR Intelligent Technology Stock Performance

The company’s 50 day simple moving average is $25.20 and its two-hundred day simple moving average is $20.94.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

Several institutional investors and hedge funds have recently modified their holdings of the company. Sandia Investment Management LP purchased a new position in shares of ZEEKR Intelligent Technology in the 2nd quarter valued at about $94,000. Barclays PLC increased 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 acquiring an additional 2,097 shares during the last quarter. Green Alpha Advisors LLC acquired a new stake in shares of ZEEKR Intelligent Technology during the 3rd quarter worth about $219,000. Marshall Wace LLP purchased a new position in ZEEKR Intelligent Technology in the second quarter valued at approximately $347,000. Finally, WT Asset Management Ltd purchased a new position in ZEEKR Intelligent Technology during the 3rd quarter worth $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.