ZEEKR Intelligent Technology (NYSE:ZK) Shares Gap Down - What's Next?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $23.36, but opened at $22.66. ZEEKR Intelligent Technology shares last traded at $22.14, with a volume of 173,780 shares.

Analysts Set New Price Targets

ZK has been the subject of a number of analyst reports. CICC Research initiated coverage on ZEEKR Intelligent Technology in a research report on Friday, October 25th. They set an "outperform" rating and a $31.74 price objective for the company. Bank of America lowered their target price on ZEEKR Intelligent Technology from $30.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Finally, Macquarie assumed coverage on ZEEKR Intelligent Technology in a report on Thursday, October 3rd. They issued an "outperform" rating and a $33.00 target price for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $32.02.

ZEEKR Intelligent Technology Stock Down 4.2 %

The stock has a 50 day simple moving average of $23.23 and a 200 day simple moving average of $20.78.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

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