ZEEKR Intelligent Technology (NYSE:ZK) Trading 2.7% Higher – Time to Buy?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s share price was up 2.7% on Monday . The company traded as high as $24.35 and last traded at $24.07. Approximately 441,698 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 872,222 shares. The stock had previously closed at $23.43.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ZK shares. Bank of America cut their price target 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 initiated coverage on ZEEKR Intelligent Technology in a research report on Friday, October 25th. They set an “outperform” rating and a $31.74 target price on the stock. Finally, Macquarie initiated coverage on ZEEKR Intelligent Technology in a research report on Thursday, October 3rd. They set an “outperform” rating and a $33.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $32.02.

ZEEKR Intelligent Technology Price Performance

The company has a 50-day moving average of $23.64 and a 200-day moving average of $20.68.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new stake in ZEEKR Intelligent Technology in the 2nd quarter valued at approximately $31,236,000. Point72 Asset Management L.P. purchased a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter worth approximately $20,388,000. Westwood Holdings Group Inc. purchased a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter worth approximately $1,288,000. WT Asset Management Ltd purchased a new stake in ZEEKR Intelligent Technology in the 3rd quarter valued at approximately $446,000. Finally, Prudential PLC purchased a new stake in ZEEKR Intelligent Technology in the 2nd quarter valued at approximately $4,194,000.

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.