ZEEKR Intelligent Technology (NYSE:ZK) Stock Price Up 7.6% – Time to Buy?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) traded up 7.6% on Thursday . The stock traded as high as $26.88 and last traded at $27.06. 251,653 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 428,237 shares. The stock had previously closed at $25.14.

Wall Street Analysts Forecast Growth

Separately, CICC Research initiated coverage on shares of ZEEKR Intelligent Technology in a research report on Friday, October 25th. They set an “outperform” rating and a $31.74 price target on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, ZEEKR Intelligent Technology currently has an average rating of “Buy” and an average price target of $32.02.

ZEEKR Intelligent Technology Price Performance

The firm’s 50 day simple moving average is $26.95 and its 200-day simple moving average is $22.45.

Institutional Trading of ZEEKR Intelligent Technology

A number of institutional investors have recently bought and sold shares of the company. Polymer Capital Management HK LTD purchased a new stake in ZEEKR Intelligent Technology in the 3rd quarter valued at approximately $3,836,000. Oppenheimer & Co. Inc. acquired a new stake in shares of ZEEKR Intelligent Technology during the fourth quarter valued at $910,000. Y Intercept Hong Kong Ltd purchased a new stake in ZEEKR Intelligent Technology during the 3rd quarter worth about $605,000. Renaissance Capital LLC raised its stake in ZEEKR Intelligent Technology by 119.0% in the 4th quarter. Renaissance Capital LLC now owns 49,697 shares of the company’s stock valued at $1,410,000 after purchasing an additional 27,001 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new position in ZEEKR Intelligent Technology in the 4th quarter valued at about $589,000.

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.