ZEEKR Intelligent Technology (NYSE:ZK) Trading Down 4.1% – Here’s What Happened

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) shares were down 4.1% during trading on Tuesday . The company traded as low as $22.00 and last traded at $22.41. Approximately 233,678 shares were traded 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

A number of equities research analysts have weighed in on ZK shares. Macquarie initiated coverage on shares of ZEEKR Intelligent Technology in a research note on Thursday, October 3rd. They set an “outperform” rating and a $33.00 target price for the company. CICC Research initiated coverage on shares of ZEEKR Intelligent Technology in a report on Friday, October 25th. They set an “outperform” rating and a $31.74 price objective for the company. Finally, Bank of America decreased their target price on shares of 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $32.02.

ZEEKR Intelligent Technology Price Performance

The firm’s fifty day moving average price is $23.11 and its 200-day moving average price is $20.77.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

Hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in ZEEKR Intelligent Technology in the second quarter valued at $31,236,000. Point72 Asset Management L.P. bought a new position in ZEEKR Intelligent Technology in the 2nd quarter valued at about $20,388,000. Westwood Holdings Group Inc. bought a new position in ZEEKR Intelligent Technology in the 2nd quarter valued at about $1,288,000. Prudential PLC bought a new position in ZEEKR Intelligent Technology in the 2nd quarter valued at about $4,194,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in ZEEKR Intelligent Technology in the 2nd quarter valued at about $2,736,000.

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.