ZEEKR Intelligent Technology (NYSE:ZK) Shares Up 5.9% - Here's What Happened

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK - Get Free Report)'s stock price shot up 5.9% during trading on Monday . The company traded as high as $27.58 and last traded at $26.90. 240,752 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 781,213 shares. The stock had previously closed at $25.41.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Bank of America dropped their price target 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. 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 target for the company. Finally, CICC Research assumed coverage on ZEEKR Intelligent Technology in a research report on Friday, October 25th. They issued an "outperform" rating and a $31.74 price target for the company. Six equities research analysts have rated the stock with a buy rating, According to 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 50-day moving average is $20.53.

ZEEKR Intelligent Technology (NYSE:ZK - Get Free Report) last announced its earnings results on Wednesday, August 21st. The company reported ($1.31) earnings per share (EPS) for the quarter. The business had revenue of $2.76 billion during the quarter. Analysts forecast that ZEEKR Intelligent Technology Holding Limited will post -2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Renaissance Capital LLC raised its stake in shares of ZEEKR Intelligent Technology by 20.0% during the third quarter. Renaissance Capital LLC now owns 22,696 shares of the company's stock valued at $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 second quarter valued at approximately $94,000. Green Alpha Advisors LLC bought a new stake in shares of ZEEKR Intelligent Technology during the third quarter valued at approximately $219,000. Marshall Wace LLP bought a new stake in shares of ZEEKR Intelligent Technology during the second quarter valued at approximately $347,000. Finally, WT Asset Management Ltd bought a new stake in shares of ZEEKR Intelligent Technology during the third quarter valued at approximately $446,000.

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.