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

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

Analyst Ratings Changes

ZK has been the topic of a number of research reports. CICC Research assumed coverage on ZEEKR Intelligent Technology in a report on Friday, October 25th. They issued an “outperform” rating and a $31.74 price objective on the stock. Macquarie assumed coverage on ZEEKR Intelligent Technology in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $33.00 price objective for the company. Finally, Bank of America reduced 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ZEEKR Intelligent Technology presently has an average rating of “Buy” and an average target price of $32.02.

ZEEKR Intelligent Technology Stock Performance

The company has a 50-day simple moving average of $23.11 and a two-hundred day simple moving average of $20.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sandia Investment Management LP bought a new position in ZEEKR Intelligent Technology in the second quarter valued at about $94,000. Barclays PLC boosted its holdings in ZEEKR Intelligent Technology by 28.5% in the third quarter. Barclays PLC now owns 9,456 shares of the company’s stock worth $211,000 after acquiring an additional 2,097 shares in the last quarter. Green Alpha Advisors LLC bought a new position in ZEEKR Intelligent Technology in the third quarter worth approximately $219,000. Marshall Wace LLP bought a new position in ZEEKR Intelligent Technology in the second quarter worth approximately $347,000. Finally, WT Asset Management Ltd bought a new position in shares of ZEEKR Intelligent Technology in the third quarter valued at 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.