ZEEKR Intelligent Technology (NYSE:ZK) Shares Down 5.4% – Here’s Why

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) was down 5.4% on Thursday . The company traded as low as $21.32 and last traded at $21.50. Approximately 331,663 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 878,195 shares. The stock had previously closed at $22.72.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ZK shares. Bank of America dropped their target price on shares of ZEEKR Intelligent Technology from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. CICC Research started 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 for the company. Finally, Macquarie started 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 for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $32.02.

ZEEKR Intelligent Technology Stock Performance

The firm has a 50 day moving average of $22.95.

ZEEKR Intelligent Technology (NYSE:ZK) last issued its earnings results on Wednesday, August 21st. The company reported ($1.31) EPS for the quarter. The business had revenue of $2.76 billion for the quarter. Equities analysts anticipate that ZEEKR Intelligent Technology Holding Limited will post -1.79 EPS for the current fiscal year.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

Several large investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new stake in ZEEKR Intelligent Technology in the second quarter valued at approximately $31,236,000. Point72 Asset Management L.P. bought a new stake in ZEEKR Intelligent Technology in the second quarter valued at approximately $20,388,000. Millennium Management LLC bought a new stake in ZEEKR Intelligent Technology in the second quarter valued at approximately $17,478,000. Prudential PLC bought a new stake in ZEEKR Intelligent Technology in the second quarter valued at approximately $4,194,000. Finally, Polymer Capital Management HK LTD bought a new stake in ZEEKR Intelligent Technology in the third quarter valued at approximately $3,836,000.

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.