ZEEKR Intelligent Technology (NYSE:ZK) Trading Down 5.4% - Here's Why

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK - Get Free Report)'s share price dropped 5.4% on Thursday . The stock traded as low as $21.32 and last traded at $21.50. Approximately 331,663 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 878,195 shares. The stock had previously closed at $22.72.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ZK shares. Bank of America lowered 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 started 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. Finally, CICC Research began coverage on ZEEKR Intelligent Technology in a report on Friday, October 25th. They issued an "outperform" rating and a $31.74 target price for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ZEEKR Intelligent Technology has an average rating of "Buy" and a consensus target price of $32.02.

ZEEKR Intelligent Technology Stock Down 2.2 %

The business's fifty day moving average is $22.71.

ZEEKR Intelligent Technology (NYSE:ZK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 21st. The company reported ($1.31) EPS for the quarter. The firm had revenue of $2.76 billion during the quarter. On average, analysts predict that ZEEKR Intelligent Technology Holding Limited will post -1.79 earnings per share for the current year.

Institutional Trading of ZEEKR Intelligent Technology

A number of institutional investors have recently added to or reduced their stakes in ZK. Point72 Hong Kong Ltd purchased a new position in ZEEKR Intelligent Technology in the 2nd quarter valued at about $31,236,000. Point72 Asset Management L.P. acquired a new stake in shares of ZEEKR Intelligent Technology in the 2nd quarter valued at about $20,388,000. Millennium Management LLC acquired a new stake in shares of ZEEKR Intelligent Technology in the 2nd quarter valued at about $17,478,000. Prudential PLC acquired a new stake in shares of ZEEKR Intelligent Technology in the 2nd quarter valued at about $4,194,000. Finally, Polymer Capital Management HK LTD acquired a new stake in shares of ZEEKR Intelligent Technology in the 3rd quarter valued at about $3,836,000.

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.

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