ZEEKR Intelligent Technology (NYSE:ZK) Shares Gap Down - Here's What Happened

ZEEKR Intelligent Technology Holding Limited Unsponsored ADR (NYSE:ZK - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $30.07, but opened at $29.00. ZEEKR Intelligent Technology shares last traded at $29.22, with a volume of 89,081 shares trading hands.

Analysts Set New Price Targets

Separately, Macquarie reduced their target price on ZEEKR Intelligent Technology from $47.00 to $38.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th.

ZEEKR Intelligent Technology Trading Down 3.0%

The stock has a market cap of $7.41 billion, a PE ratio of -10.04 and a beta of 0.03. The company has a fifty day moving average of $27.19 and a 200-day moving average of $25.68.

ZEEKR Intelligent Technology (NYSE:ZK - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.39) EPS for the quarter, beating analysts' consensus estimates of ($5.08) by $4.69. The business had revenue of $3.03 billion during the quarter. As a group, research analysts anticipate that ZEEKR Intelligent Technology Holding Limited Unsponsored ADR will post -1.76 earnings per share for the current fiscal year.

Institutional Trading of ZEEKR Intelligent Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. Brooklyn Investment Group raised its stake in shares of ZEEKR Intelligent Technology by 2,014.8% during the 1st quarter. Brooklyn Investment Group now owns 1,290 shares of the company's stock worth $31,000 after buying an additional 1,229 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of ZEEKR Intelligent Technology during the 1st quarter worth approximately $44,000. Quantbot Technologies LP purchased a new position in shares of ZEEKR Intelligent Technology during the 4th quarter worth approximately $86,000. JPMorgan Chase & Co. purchased a new position in shares of ZEEKR Intelligent Technology during the 4th quarter worth approximately $145,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of ZEEKR Intelligent Technology during the 4th quarter worth approximately $202,000.

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.

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