ZEEKR Intelligent Technology (NYSE:ZK) Sees Strong Trading Volume – Should You Buy?

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) saw an uptick in trading volume on Thursday . 886,737 shares traded hands during trading, an increase of 7% from the previous session’s volume of 832,078 shares.The stock last traded at $23.87 and had previously closed at $29.14.

Wall Street Analysts Forecast Growth

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

ZEEKR Intelligent Technology Price Performance

The company’s 50 day simple moving average is $22.19.

ZEEKR Intelligent Technology (NYSE:ZK) last released its quarterly earnings data on Wednesday, August 21st. The company reported ($1.31) EPS for the quarter. The firm had revenue of $2.76 billion during the quarter. Research analysts predict that ZEEKR Intelligent Technology Holding Limited will post -2.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

Several hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd purchased a new stake in ZEEKR Intelligent Technology during the 2nd quarter worth approximately $31,236,000. Point72 Asset Management L.P. purchased a new stake in ZEEKR Intelligent Technology during the 2nd quarter worth approximately $20,388,000. Millennium Management LLC acquired a new position in shares of ZEEKR Intelligent Technology in the 2nd quarter worth approximately $17,478,000. Prudential PLC acquired a new position in shares of ZEEKR Intelligent Technology in the 2nd quarter worth approximately $4,194,000. Finally, Lighthouse Investment Partners LLC acquired a new position in ZEEKR Intelligent Technology during the 2nd quarter valued at approximately $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.