ZEEKR Intelligent Technology (NYSE:ZK) Trading Down 5.6% – Time to Sell?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s stock price dropped 5.6% during trading on Tuesday . The company traded as low as $24.46 and last traded at $24.54. Approximately 75,710 shares changed hands during trading, a decline of 81% from the average daily volume of 406,247 shares. The stock had previously closed at $25.99.

Wall Street Analysts Forecast Growth

ZK has been the subject of a number of research analyst reports. Macquarie began coverage on shares of 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 started coverage on ZEEKR Intelligent Technology in a report on Friday, October 25th. They issued an “outperform” rating and a $31.74 price target on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $32.02.

ZEEKR Intelligent Technology Price Performance

The company has a 50-day moving average price of $26.60 and a 200-day moving average price of $22.19.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Millennium Management LLC bought a new position in shares of ZEEKR Intelligent Technology during the second quarter worth $17,478,000. Polymer Capital Management HK LTD acquired a new stake in ZEEKR Intelligent Technology during the 3rd quarter worth $3,836,000. Squarepoint Ops LLC acquired a new stake in ZEEKR Intelligent Technology during the 2nd quarter worth $1,561,000. Ghisallo Capital Management LLC bought a new position in ZEEKR Intelligent Technology during the second quarter worth about $1,319,000. Finally, Renaissance Capital LLC grew its stake in ZEEKR Intelligent Technology by 119.0% in the fourth quarter. Renaissance Capital LLC now owns 49,697 shares of the company’s stock valued at $1,410,000 after acquiring an additional 27,001 shares during the period.

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.