ZEEKR Intelligent Technology (NYSE:ZK) Stock Price Up 5.9% – Still a Buy?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s stock price was up 5.9% during mid-day trading on Monday . The company traded as high as $27.58 and last traded at $26.90. Approximately 240,752 shares were traded during trading, a decline of 69% from the average daily volume of 781,213 shares. The stock had previously closed at $25.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Macquarie started coverage on ZEEKR Intelligent Technology in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $33.00 target price for the company. CICC Research assumed coverage on ZEEKR Intelligent Technology in a research report on Friday, October 25th. They issued an “outperform” rating and a $31.74 price objective for the company. Finally, Bank of America cut their target price on shares of ZEEKR Intelligent Technology from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $32.02.

ZEEKR Intelligent Technology Price Performance

The stock’s 50-day moving average is $20.91.

ZEEKR Intelligent Technology (NYSE:ZK) last posted 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. Equities analysts predict that ZEEKR Intelligent Technology Holding Limited will post -2.2 earnings per share for the current year.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sandia Investment Management LP purchased a new stake in ZEEKR Intelligent Technology in the second quarter worth $94,000. Green Alpha Advisors LLC bought a new stake in shares of ZEEKR Intelligent Technology during the 3rd quarter valued at $219,000. Marshall Wace LLP bought a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter valued at $347,000. WT Asset Management Ltd purchased a new stake in shares of ZEEKR Intelligent Technology in the 3rd quarter worth about $446,000. Finally, Renaissance Capital LLC increased its stake in shares of ZEEKR Intelligent Technology by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 22,696 shares of the company’s stock worth $506,000 after acquiring an additional 3,789 shares in the last quarter.

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.