ZEEKR Intelligent Technology (NYSE:ZK) Trading Down 9.4% – Here’s What Happened

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) traded down 9.4% during trading on Friday . The company 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 equities research analysts have weighed in on the company. Macquarie initiated coverage on ZEEKR Intelligent Technology in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $33.00 target price for the company. CICC Research initiated coverage on ZEEKR Intelligent Technology in a report on Friday, October 25th. They issued an “outperform” rating and a $31.74 price objective for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $32.02.

ZEEKR Intelligent Technology Stock Performance

The business has a 50-day moving average price of $25.70 and a 200 day moving average price of $21.12.

Institutional Trading of ZEEKR Intelligent Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new stake in ZEEKR Intelligent Technology during the 2nd quarter valued at $31,236,000. Point72 Asset Management L.P. acquired a new position in ZEEKR Intelligent Technology during the second quarter valued at $20,388,000. Millennium Management LLC purchased a new stake in ZEEKR Intelligent Technology in the 2nd quarter worth about $17,478,000. Prudential PLC acquired a new stake in ZEEKR Intelligent Technology during the 2nd quarter worth about $4,194,000. Finally, Polymer Capital Management HK LTD purchased a new position in ZEEKR Intelligent Technology during the 3rd quarter valued at about $3,836,000.

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.