ZEEKR Intelligent Technology (NYSE:ZK) Trading Down 5.4% – Here’s Why

Shares of ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) fell 5.4% during mid-day trading on Thursday . The company traded as low as $21.32 and last traded at $21.50. 331,663 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 878,195 shares. The stock had previously closed at $22.72.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Bank of America cut their price target on shares of ZEEKR Intelligent Technology from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Macquarie assumed coverage on shares of ZEEKR Intelligent Technology in a report on Thursday, October 3rd. They set an “outperform” rating and a $33.00 price target on the stock. Finally, CICC Research assumed coverage on shares of ZEEKR Intelligent Technology in a report on Friday, October 25th. They set an “outperform” rating and a $31.74 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, ZEEKR Intelligent Technology has a consensus rating of “Buy” and a consensus target price of $32.02.

ZEEKR Intelligent Technology Stock Performance

The stock’s 50 day simple moving average is $22.71.

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 business had revenue of $2.76 billion for the quarter. Equities research analysts expect that ZEEKR Intelligent Technology Holding Limited will post -1.79 EPS for the current year.

Institutional Inflows and Outflows

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

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.