ZEEKR Intelligent Technology (NYSE:ZK) Stock Price Down 3.7% – Time to Sell?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)’s share price fell 3.7% during trading on Thursday . The company traded as low as $26.08 and last traded at $27.33. 196,820 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 861,966 shares. The stock had previously closed at $28.38.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ZK. Macquarie assumed coverage on ZEEKR Intelligent Technology in a research note on Thursday, October 3rd. They set an “outperform” rating and a $33.00 price target on the stock. CICC Research assumed coverage on shares of ZEEKR Intelligent Technology in a research note on Friday, October 25th. They set an “outperform” rating and a $31.74 price target on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $32.02.

ZEEKR Intelligent Technology Price Performance

The stock has a 50-day moving average of $26.13 and a 200 day moving average of $21.36.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of ZEEKR Intelligent Technology by 28.5% during the 3rd quarter. Barclays PLC now owns 9,456 shares of the company’s stock valued at $211,000 after purchasing an additional 2,097 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in ZEEKR Intelligent Technology during the third quarter valued at $605,000. Polymer Capital Management HK LTD purchased a new position in ZEEKR Intelligent Technology in the third quarter valued at $3,836,000. HITE Hedge Asset Management LLC raised its position in shares of ZEEKR Intelligent Technology by 52.4% in the third quarter. HITE Hedge Asset Management LLC now owns 48,202 shares of the company’s stock worth $1,074,000 after acquiring an additional 16,564 shares during the period. Finally, WT Asset Management Ltd purchased a new stake in shares of ZEEKR Intelligent Technology during the 3rd quarter worth about $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.