ZEEKR Intelligent Technology (NYSE:ZK) Shares Up 8.1% – Should You Buy?

Shares of ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) traded up 8.1% on Thursday . The company traded as high as $26.23 and last traded at $27.03. 116,535 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 411,843 shares. The stock had previously closed at $25.01.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ZK shares. Macquarie initiated coverage on ZEEKR Intelligent Technology in a research note on Thursday, October 3rd. They set an “outperform” rating and a $33.00 price target for the company. CICC Research assumed coverage on shares of ZEEKR Intelligent Technology in a research report on Friday, October 25th. They set an “outperform” rating and a $31.74 target price for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $32.02.

ZEEKR Intelligent Technology Trading Up 5.3 %

The firm’s 50-day moving average price is $26.65 and its 200-day moving average price is $22.21.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Capital LLC boosted its stake in ZEEKR Intelligent Technology by 119.0% during the fourth quarter. Renaissance Capital LLC now owns 49,697 shares of the company’s stock worth $1,410,000 after buying an additional 27,001 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of ZEEKR Intelligent Technology during the 4th quarter worth about $341,000. Green Alpha Advisors LLC grew its holdings in ZEEKR Intelligent Technology by 55.4% during the 4th quarter. Green Alpha Advisors LLC now owns 15,283 shares of the company’s stock valued at $434,000 after purchasing an additional 5,447 shares during the last quarter. Barclays PLC raised its position in 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 purchasing an additional 2,097 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of ZEEKR Intelligent Technology during the 3rd quarter worth approximately $605,000.

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.