ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) Sees Large Growth in Short Interest

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,880,000 shares, a growth of 22.1% from the October 15th total of 1,540,000 shares. Based on an average daily trading volume, of 961,200 shares, the short-interest ratio is currently 2.0 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Capital LLC boosted its stake in ZEEKR Intelligent Technology by 20.0% during the 3rd 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 during the period. Sandia Investment Management LP acquired a new stake in shares of ZEEKR Intelligent Technology in the 2nd quarter worth approximately $94,000. Green Alpha Advisors LLC acquired a new stake in shares of ZEEKR Intelligent Technology in the 3rd quarter worth approximately $219,000. HITE Hedge Asset Management LLC lifted its stake in shares of ZEEKR Intelligent Technology by 52.4% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 48,202 shares of the company’s stock worth $1,074,000 after acquiring an additional 16,564 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of ZEEKR Intelligent Technology in the 2nd quarter worth approximately $347,000.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ZK. Macquarie began coverage on shares of ZEEKR Intelligent Technology in a research note on Thursday, October 3rd. They set an “outperform” rating and a $33.00 price target on the stock. CICC Research began coverage on shares of 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. Finally, Bank of America dropped their price target on shares of 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $32.02.

ZEEKR Intelligent Technology Stock Performance

Shares of ZK traded down $1.90 during midday trading on Friday, hitting $20.34. The company had a trading volume of 2,637,161 shares, compared to its average volume of 878,102. ZEEKR Intelligent Technology has a 52 week low of $13.00 and a 52 week high of $32.24. The firm has a 50 day moving average price of $22.29.

ZEEKR Intelligent Technology (NYSE:ZK) last announced its quarterly earnings data on Wednesday, August 21st. The company reported ($1.31) earnings per share for the quarter. The company had revenue of $2.76 billion for the quarter. As a group, sell-side analysts expect that ZEEKR Intelligent Technology will post -2.2 earnings per share for the current fiscal year.

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.