ZEEKR Intelligent Technology (NYSE:ZK) Shares Gap Up – Still a Buy?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) shares gapped up prior to trading on Friday . The stock had previously closed at $21.17, but opened at $22.26. ZEEKR Intelligent Technology shares last traded at $22.29, with a volume of 144,366 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America cut their target price on shares of ZEEKR Intelligent Technology from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Citigroup initiated coverage on shares of ZEEKR Intelligent Technology in a research report on Monday, June 24th. They set a “buy” rating and a $32.40 price objective for the company. Finally, Macquarie assumed coverage on ZEEKR Intelligent Technology in a research report on Thursday, October 3rd. They set an “outperform” rating and a $33.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ZEEKR Intelligent Technology currently has a consensus rating of “Buy” and an average price target of $32.08.

ZEEKR Intelligent Technology Stock Performance

The company’s 50 day simple moving average is $18.68.

ZEEKR Intelligent Technology (NYSE:ZK) last posted its quarterly earnings results on Wednesday, August 21st. The company reported ($1.31) earnings per share (EPS) for the quarter. The company had revenue of $2.76 billion for the quarter. On average, equities research analysts forecast that ZEEKR Intelligent Technology Holding Limited will post -2.31 earnings per share for the current year.

Institutional Trading of ZEEKR Intelligent Technology

A number of large investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new stake in ZEEKR Intelligent Technology during the second quarter worth about $31,236,000. Point72 Asset Management L.P. acquired a new position in shares of ZEEKR Intelligent Technology during the second quarter worth approximately $20,388,000. Westwood Holdings Group Inc. bought a new stake in shares of ZEEKR Intelligent Technology during the second quarter valued at approximately $1,288,000. Prudential PLC bought a new stake in shares of ZEEKR Intelligent Technology during the second quarter valued at approximately $4,194,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of ZEEKR Intelligent Technology in the second quarter valued at approximately $2,736,000.

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.