ZEEKR Intelligent Technology (NYSE:ZK) Shares Down 9.4% - Here's What Happened

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK - Get Free Report) shares traded down 9.4% on Friday . The stock traded as low as $28.80 and last traded at $29.25. 321,962 shares changed hands during trading, a decline of 63% from the average session volume of 863,068 shares. The stock had previously closed at $32.30.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZK. CICC Research assumed coverage on shares of ZEEKR Intelligent Technology in a report on Friday, October 25th. They issued an "outperform" rating and a $31.74 price target on the stock. Macquarie started coverage on ZEEKR Intelligent Technology in a report on Thursday, October 3rd. They issued an "outperform" rating and a $33.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $32.02.

ZEEKR Intelligent Technology Stock Down 9.6 %

The stock has a fifty day moving average price of $25.70 and a 200 day moving average price of $21.12.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

A number of large investors have recently made changes to their positions in the company. Sandia Investment Management LP bought a new stake in shares of ZEEKR Intelligent Technology during the second quarter worth $94,000. Barclays PLC lifted its holdings in shares of ZEEKR Intelligent Technology by 28.5% in the 3rd quarter. Barclays PLC now owns 9,456 shares of the company's stock worth $211,000 after buying an additional 2,097 shares during the period. Green Alpha Advisors LLC bought a new position in shares of ZEEKR Intelligent Technology during the 3rd quarter worth $219,000. Marshall Wace LLP purchased a new position in shares of ZEEKR Intelligent Technology during the second quarter valued at $347,000. Finally, WT Asset Management Ltd bought a new stake in shares of ZEEKR Intelligent Technology in the third quarter valued at about $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.