ZEEKR Intelligent Technology (NYSE:ZK) Stock Price Down 5.6% – Here’s Why

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) fell 5.6% during trading on Tuesday . The stock traded as low as $24.46 and last traded at $24.54. 75,710 shares changed hands during trading, a decline of 81% from the average session volume of 406,247 shares. The stock had previously closed at $25.99.

Wall Street Analyst Weigh In

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

ZEEKR Intelligent Technology Price Performance

The firm has a fifty day simple moving average of $26.52 and a 200 day simple moving average of $22.15.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. acquired a new position in ZEEKR Intelligent Technology in the 2nd quarter valued at $20,388,000. Millennium Management LLC acquired a new stake in shares of ZEEKR Intelligent Technology in the second quarter valued at about $17,478,000. Polymer Capital Management HK LTD purchased a new position in shares of ZEEKR Intelligent Technology in the third quarter worth about $3,836,000. Squarepoint Ops LLC acquired a new position in ZEEKR Intelligent Technology during the second quarter worth about $1,561,000. Finally, Ghisallo Capital Management LLC purchased a new stake in ZEEKR Intelligent Technology during the 2nd quarter valued at about $1,319,000.

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.