ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) Sees Significant Decrease in Short Interest

ZEEKR Intelligent Technology Holding Limited (NYSE:ZK - Get Free Report) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 916,400 shares, a decrease of 35.5% from the April 30th total of 1,420,000 shares. Based on an average daily trading volume, of 849,300 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.4% of the company's stock are short sold.

Institutional Investors Weigh In On ZEEKR Intelligent Technology

Large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. acquired a new stake in ZEEKR Intelligent Technology in the fourth quarter worth $341,000. Quantbot Technologies LP acquired a new position in shares of ZEEKR Intelligent Technology during the fourth quarter valued at $86,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of ZEEKR Intelligent Technology during the fourth quarter valued at $768,000. Renaissance Capital LLC increased its holdings in shares of ZEEKR Intelligent Technology by 119.0% during the fourth quarter. Renaissance Capital LLC now owns 49,697 shares of the company's stock valued at $1,410,000 after purchasing an additional 27,001 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in shares of ZEEKR Intelligent Technology during the fourth quarter valued at $1,822,000.

ZEEKR Intelligent Technology Price Performance

Shares of ZK stock traded up $0.26 on Monday, hitting $26.55. 157,646 shares of the stock traded hands, compared to its average volume of 778,796. The company has a market capitalization of $6.75 billion and a PE ratio of -9.12. ZEEKR Intelligent Technology has a 1-year low of $13.00 and a 1-year high of $33.32. The company's fifty day moving average is $23.77 and its 200 day moving average is $25.53.

ZEEKR Intelligent Technology (NYSE:ZK - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($5.08) by $4.69. The firm had revenue of $3.03 billion for the quarter. As a group, equities research analysts expect that ZEEKR Intelligent Technology will post -1.76 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Macquarie reduced their target price on ZEEKR Intelligent Technology from $47.00 to $38.00 and set an "outperform" rating for the company in a research note on Wednesday, May 28th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $32.86.

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.