ZEEKR Intelligent Technology (NYSE:ZK) Shares Down 0.4% - Should You Sell?

Key Points

• The stock price of ZEEKR Intelligent Technology fell 0.4%, closing at $29.90 after hitting a low of $29.81 during trading.
• Wall Street analysts are mixed on the stock, with one brokerage upgrading it to a "buy" while Weiss Ratings maintained a "sell" rating; the average stock rating remains "hold".
• Several institutional investors, including Renaissance Capital and Man Group plc, increased their holdings in ZEEKR, indicating growing institutional interest.

ZEEKR Intelligent Technology Holding Limited Unsponsored ADR (NYSE:ZK - Get Free Report)'s stock price fell 0.4% during trading on Wednesday . The stock traded as low as $29.81 and last traded at $29.90. 434,883 shares traded hands during trading, an increase of 8% from the average session volume of 402,488 shares. The stock had previously closed at $30.02.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZK. Wall Street Zen raised ZEEKR Intelligent Technology from a "hold" rating to a "buy" rating in a research note on Sunday, September 28th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ZEEKR Intelligent Technology in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $34.87.

ZEEKR Intelligent Technology Stock Down 0.4%

The stock has a 50-day moving average of $29.58 and a 200 day moving average of $27.12. The stock has a market cap of $7.66 billion, a PE ratio of -16.52 and a beta of 0.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Capital LLC increased its position in ZEEKR Intelligent Technology by 198.8% during the third quarter. Renaissance Capital LLC now owns 68,567 shares of the company's stock worth $2,090,000 after purchasing an additional 45,617 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of ZEEKR Intelligent Technology in the 2nd quarter valued at approximately $2,550,000. MASO CAPITAL PARTNERS Ltd acquired a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter worth approximately $2,205,000. Tidal Investments LLC acquired a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter worth approximately $227,000. Finally, Man Group plc raised 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 buying an additional 130,129 shares during the period.

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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