Short Interest in ZEEKR Intelligent Technology Holding Limited Unsponsored ADR (NYSE:ZK) Declines By 23.0%

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. Currently,0.2% of the shares of the company are sold short. Based on an average trading volume of 511,200 shares, the days-to-cover ratio is currently 1.2 days. Based on an average trading volume of 511,200 shares, the days-to-cover ratio is currently 1.2 days. Currently,0.2% of the shares of the company are sold short.

ZEEKR Intelligent Technology Stock Performance

Shares of NYSE:ZK traded down $0.09 on Tuesday, hitting $29.85. 220,296 shares of the company were exchanged, compared to its average volume of 631,537. The company's 50 day moving average price is $28.15 and its two-hundred day moving average price is $26.23. ZEEKR Intelligent Technology has a one year low of $15.00 and a one year high of $33.32. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of -16.49 and a beta of 0.08.

Wall Street Analysts Forecast Growth

Separately, Macquarie dropped their target price on shares of ZEEKR Intelligent Technology from $47.00 to $38.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $34.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. bought a new position in shares of ZEEKR Intelligent Technology during the 2nd quarter worth about $2,550,000. MASO CAPITAL PARTNERS Ltd acquired a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter valued at about $2,205,000. Tidal Investments LLC acquired a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter valued at about $227,000. Man Group plc boosted its position in shares of ZEEKR Intelligent Technology by 589.6% during the 2nd quarter. Man Group plc now owns 152,201 shares of the company's stock valued at $3,881,000 after acquiring an additional 130,129 shares in the last quarter. Finally, LMR Partners LLP acquired a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter valued at about $944,000.

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.