ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) Sees Significant Increase in Short Interest

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 1,880,000 shares, a growth of 22.1% from the October 15th total of 1,540,000 shares. Based on an average daily volume of 961,200 shares, the days-to-cover ratio is currently 2.0 days.

ZEEKR Intelligent Technology Price Performance

Shares of ZK stock traded down $1.90 during trading hours on Friday, reaching $20.34. 2,637,161 shares of the stock traded hands, compared to its average volume of 878,102. The firm has a fifty day moving average of $22.29. ZEEKR Intelligent Technology has a 1-year low of $13.00 and a 1-year high of $32.24.

ZEEKR Intelligent Technology (NYSE:ZK) last posted 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. Sell-side analysts predict that ZEEKR Intelligent Technology will post -2.2 EPS for the current fiscal year.

Institutional Trading of ZEEKR Intelligent Technology

Several large investors have recently added to or reduced their stakes in the business. Renaissance Capital LLC grew its position in ZEEKR Intelligent Technology by 20.0% in the third 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. Sandia Investment Management LP bought a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter worth $94,000. Green Alpha Advisors LLC bought a new stake in shares of ZEEKR Intelligent Technology during the 3rd quarter worth $219,000. HITE Hedge Asset Management LLC boosted its holdings in shares of ZEEKR Intelligent Technology by 52.4% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 48,202 shares of the company’s stock worth $1,074,000 after buying an additional 16,564 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter worth $347,000.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. CICC Research assumed coverage on shares of ZEEKR Intelligent Technology in a report on Friday, October 25th. They issued an “outperform” rating and a $31.74 target price on the stock. Macquarie started coverage on shares of ZEEKR Intelligent Technology in a report on Thursday, October 3rd. They set an “outperform” rating and a $33.00 price target on the stock. Finally, Bank of America cut their price target 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 MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.02.

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.