ZEEKR Intelligent Technology (NYSE:ZK) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) saw unusually-high trading volume on Thursday . Approximately 886,737 shares were traded during trading, an increase of 7% from the previous session’s volume of 832,078 shares.The stock last traded at $23.87 and had previously closed at $29.14.

Wall Street Analyst Weigh In

ZK has been the topic of several recent analyst reports. Bank of America cut their target price on ZEEKR Intelligent Technology from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. 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 on the stock. Finally, Macquarie started coverage on ZEEKR Intelligent Technology in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $33.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, ZEEKR Intelligent Technology has a consensus rating of “Buy” and an average target price of $32.02.

ZEEKR Intelligent Technology Stock Down 25.3 %

The firm has a 50-day simple moving average of $22.19.

ZEEKR Intelligent Technology (NYSE:ZK) last announced its earnings results on Wednesday, August 21st. The company reported ($1.31) earnings per share (EPS) for the quarter. The firm had revenue of $2.76 billion during the quarter. On average, equities research analysts predict that ZEEKR Intelligent Technology Holding Limited will post -2.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Sandia Investment Management LP purchased a new position in shares of ZEEKR Intelligent Technology during the second quarter valued at $94,000. Green Alpha Advisors LLC purchased a new position in ZEEKR Intelligent Technology in the third quarter valued at about $219,000. Marshall Wace LLP purchased a new position in ZEEKR Intelligent Technology in the second quarter valued at about $347,000. WT Asset Management Ltd purchased a new position in ZEEKR Intelligent Technology in the third quarter valued at about $446,000. Finally, 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 valued at $506,000 after purchasing an additional 3,789 shares in the last quarter.

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.