ZEEKR Intelligent Technology (NYSE:ZK) Shares Up 8.1% – Here’s Why

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) shot up 8.1% on Thursday . The company traded as high as $26.23 and last traded at $27.03. 116,535 shares traded hands during trading, a decline of 72% from the average session volume of 411,843 shares. The stock had previously closed at $25.01.

Wall Street Analysts Forecast Growth

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

ZEEKR Intelligent Technology Stock Performance

The company has a 50-day moving average of $26.81 and a 200-day moving average of $22.29.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

A number of large investors have recently made changes to their positions in ZK. Barclays PLC boosted its holdings in ZEEKR Intelligent Technology by 28.5% in the third quarter. Barclays PLC now owns 9,456 shares of the company’s stock valued at $211,000 after purchasing an additional 2,097 shares during the last quarter. Renaissance Capital LLC increased its holdings 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 buying an additional 3,789 shares in the last quarter. Green Alpha Advisors LLC boosted its stake in shares of ZEEKR Intelligent Technology by 55.4% during the 4th quarter. Green Alpha Advisors LLC now owns 15,283 shares of the company’s stock worth $434,000 after acquiring an additional 5,447 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of ZEEKR Intelligent Technology during the 4th quarter valued at about $341,000. Finally, HITE Hedge Asset Management LLC increased its position in shares of ZEEKR Intelligent Technology by 52.4% in the third quarter. HITE Hedge Asset Management LLC now owns 48,202 shares of the company’s stock valued at $1,074,000 after buying an additional 16,564 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.