ZEEKR Intelligent Technology (NYSE:ZK) Shares Up 3.4% – Should You Buy?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) shares shot up 3.4% on Tuesday . The company traded as high as $27.95 and last traded at $27.92. 156,979 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 863,731 shares. The stock had previously closed at $27.00.

Wall Street Analysts Forecast Growth

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

ZEEKR Intelligent Technology Stock Performance

The stock’s 50-day moving average price is $24.77 and its 200-day moving average price is $20.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sandia Investment Management LP purchased a new position in shares of ZEEKR Intelligent Technology during the 2nd quarter worth approximately $94,000. Barclays PLC increased its position in ZEEKR Intelligent Technology by 28.5% during the third quarter. Barclays PLC now owns 9,456 shares of the company’s stock worth $211,000 after buying an additional 2,097 shares in the last quarter. Green Alpha Advisors LLC acquired a new position in shares of ZEEKR Intelligent Technology in the third quarter worth $219,000. Marshall Wace LLP acquired a new stake in shares of ZEEKR Intelligent Technology during the second quarter valued at $347,000. Finally, WT Asset Management Ltd acquired a new position in ZEEKR Intelligent Technology in the 3rd quarter valued at about $446,000.

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.