ZEEKR Intelligent Technology (NYSE:ZK) Price Target Lowered to $38.00 at Macquarie

ZEEKR Intelligent Technology (NYSE:ZK - Get Free Report) had its price objective decreased by research analysts at Macquarie from $47.00 to $38.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Macquarie's price target would indicate a potential upside of 43.96% from the company's previous close.

ZEEKR Intelligent Technology Trading Down 3.7%

Shares of ZK stock traded down $1.00 on Wednesday, reaching $26.40. 189,424 shares of the company's stock were exchanged, compared to its average volume of 780,594. ZEEKR Intelligent Technology has a 52 week low of $13.00 and a 52 week high of $33.32. The stock has a market capitalization of $6.71 billion and a PE ratio of -9.09. The company's fifty day simple moving average is $23.77 and its 200 day simple moving average is $25.54.

ZEEKR Intelligent Technology (NYSE:ZK - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($5.08) by $4.69. The business had revenue of $3.03 billion for the quarter. As a group, sell-side analysts predict that ZEEKR Intelligent Technology will post -1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC increased its holdings in ZEEKR Intelligent Technology by 248.1% during 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. Brooklyn Investment Group increased its holdings in shares of ZEEKR Intelligent Technology by 2,014.8% in the 1st quarter. Brooklyn Investment Group now owns 1,290 shares of the company's stock valued at $31,000 after acquiring an additional 1,229 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of ZEEKR Intelligent Technology in the 1st quarter valued at $44,000. Invesco Ltd. boosted its position in shares of ZEEKR Intelligent Technology by 74.4% in the 1st quarter. Invesco Ltd. now owns 34,201 shares of the company's stock worth $824,000 after purchasing an additional 14,594 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of ZEEKR Intelligent Technology by 23.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,549 shares of the company's stock worth $615,000 after purchasing an additional 4,811 shares in the last quarter.

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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