Point72 Asset Management L.P. Lowers Holdings in ZEEKR Intelligent Technology Holding Limited (NYSE:ZK)

Point72 Asset Management L.P. cut its position in shares of ZEEKR Intelligent Technology Holding Limited (NYSE:ZK - Free Report) by 38.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 663,157 shares of the company's stock after selling 418,988 shares during the period. Point72 Asset Management L.P. owned approximately 0.27% of ZEEKR Intelligent Technology worth $14,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZK. Point72 Hong Kong Ltd purchased a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter worth approximately $31,236,000. Millennium Management LLC bought a new stake in ZEEKR Intelligent Technology in the second quarter worth $17,478,000. Prudential PLC purchased a new stake in ZEEKR Intelligent Technology during the second quarter valued at $4,194,000. Polymer Capital Management HK LTD bought a new position in ZEEKR Intelligent Technology during the third quarter valued at $3,836,000. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of ZEEKR Intelligent Technology in the 2nd quarter worth $2,736,000.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. 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. CICC Research started coverage on ZEEKR Intelligent Technology in a research report on Friday, October 25th. They set an "outperform" rating and a $31.74 target price on the stock. Finally, Macquarie started coverage on ZEEKR Intelligent Technology in a report on Thursday, October 3rd. They set an "outperform" rating and a $33.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, ZEEKR Intelligent Technology has an average rating of "Buy" and an average price target of $32.02.

ZEEKR Intelligent Technology Trading Up 3.3 %

Shares of NYSE ZK traded up $0.82 during midday trading on Friday, hitting $25.99. The company's stock had a trading volume of 615,887 shares, compared to its average volume of 1,325,371. The business's 50 day moving average is $24.32 and its two-hundred day moving average is $20.71. ZEEKR Intelligent Technology Holding Limited has a 12-month low of $13.00 and a 12-month high of $32.24.

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.