ZEEKR Intelligent Technology (NYSE:ZK) Shares Gap Up – Here’s Why

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) 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 changing hands.

Analyst Ratings Changes

A number of analysts have commented on ZK shares. Citigroup assumed coverage on shares of ZEEKR Intelligent Technology in a report on Monday, June 24th. They set a “buy” rating and a $32.40 target price for the company. Bank of America decreased their price objective on 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. Finally, Macquarie initiated coverage on ZEEKR Intelligent Technology in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $33.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $32.08.

ZEEKR Intelligent Technology Stock Performance

The stock has a fifty day simple moving average of $18.68.

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

Institutional Trading of ZEEKR Intelligent Technology

Several hedge funds have recently bought and sold shares of the stock. Renaissance Capital LLC boosted its holdings in shares of ZEEKR Intelligent Technology by 20.0% in the third quarter. Renaissance Capital LLC now owns 22,696 shares of the company’s stock valued at $506,000 after buying an additional 3,789 shares during the period. Sandia Investment Management LP acquired a new position in ZEEKR Intelligent Technology in the 2nd quarter worth $94,000. Green Alpha Advisors LLC bought a new position in ZEEKR Intelligent Technology during the 3rd quarter worth about $219,000. Marshall Wace LLP bought a new position in ZEEKR Intelligent Technology during the 2nd quarter worth about $347,000. Finally, HITE Hedge Asset Management LLC acquired a new stake in shares of ZEEKR Intelligent Technology in the 2nd quarter valued at about $596,000.

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.