ZEEKR Intelligent Technology Holding Limited Unsponsored ADR (NYSE:ZK) Sees Significant Decline in Short Interest

Key Points

• ZEEKR Intelligent Technology saw a significant 23% decline in short interest during July, dropping from 776,800 to 597,900 shares.
• Large investors like JPMorgan Chase & Co. and Man Group plc have dramatically increased their positions in the company, signaling growing investor interest.
• Analysts have varied perspectives, with Macquarie lowering its price target from $47 to $38, while the stock maintains an average "Buy" rating with a target of $31.91.

ZEEKR Intelligent Technology Holding Limited Unsponsored ADR (NYSE:ZK - Get Free Report) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 597,900 shares, adropof23.0% from the July 15th total of 776,800 shares. Based on an average daily volume of 511,200 shares, the short-interest ratio is presently 1.2 days. Approximately0.2% of the shares of the stock are short sold. Approximately0.2% of the shares of the stock are short sold. Based on an average daily volume of 511,200 shares, the short-interest ratio is presently 1.2 days.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

A number of large investors have recently added to or reduced their stakes in ZK. MY.Alpha Management HK Advisors Ltd purchased a new position in ZEEKR Intelligent Technology in the 2nd quarter worth $15,730,000. Norges Bank purchased a new position in ZEEKR Intelligent Technology in the 2nd quarter worth $9,252,000. JPMorgan Chase & Co. raised its position in ZEEKR Intelligent Technology by 691.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 372,825 shares of the company's stock worth $9,507,000 after purchasing an additional 325,691 shares during the period. Millennium Management LLC raised its position in ZEEKR Intelligent Technology by 248.1% in the 1st quarter. Millennium Management LLC now owns 266,748 shares of the company's stock worth $6,426,000 after purchasing an additional 190,126 shares during the period. Finally, Man Group plc raised its position in ZEEKR Intelligent Technology by 589.6% in the 2nd quarter. Man Group plc now owns 152,201 shares of the company's stock worth $3,881,000 after purchasing an additional 130,129 shares during the period.

Analyst Upgrades and Downgrades

Separately, Macquarie dropped their price objective on shares of ZEEKR Intelligent Technology from $47.00 to $38.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $31.91.

ZEEKR Intelligent Technology Stock Performance

NYSE ZK opened at $30.23 on Thursday. ZEEKR Intelligent Technology has a 52-week low of $14.75 and a 52-week high of $33.32. The company has a market capitalization of $7.68 billion, a P/E ratio of -16.70 and a beta of 0.08. The company has a fifty day moving average of $27.90 and a 200-day moving average of $26.13.

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.

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