ZEEKR Intelligent Technology (NYSE:ZK) Stock Price Down 4.1% – Time to Sell?

Shares of ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) were down 4.1% during trading on Tuesday . The stock traded as low as $22.00 and last traded at $22.41. Approximately 233,678 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 875,554 shares. The stock had previously closed at $23.36.

Wall Street Analyst Weigh In

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

ZEEKR Intelligent Technology Stock Up 0.3 %

The company has a fifty day simple moving average of $23.38 and a two-hundred day simple moving average of $20.79.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in ZEEKR Intelligent Technology by 28.5% in the 3rd quarter. Barclays PLC now owns 9,456 shares of the company’s stock valued at $211,000 after buying an additional 2,097 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in ZEEKR Intelligent Technology in the third quarter valued at approximately $605,000. Polymer Capital Management HK LTD purchased a new stake in ZEEKR Intelligent Technology in the third quarter valued at approximately $3,836,000. HITE Hedge Asset Management LLC increased its position in ZEEKR Intelligent Technology by 52.4% during the third quarter. HITE Hedge Asset Management LLC now owns 48,202 shares of the company’s stock worth $1,074,000 after purchasing an additional 16,564 shares during the last quarter. Finally, WT Asset Management Ltd purchased a new position in ZEEKR Intelligent Technology during the third quarter worth approximately $446,000.

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.