ZEEKR Intelligent Technology (NYSE:ZK) Shares Gap Up - Still a Buy?

Key Points

• ZEEKR Intelligent Technology shares gapped up from $29.28 to $30.54 before closing at $30.15, indicating a strong market interest in the stock.
• Wall Street analysts have upgraded ZEEKR's rating from "hold" to "buy," with a consensus price target set at $34.87.
• Various hedge funds have recently made new investments in ZEEKR, reflecting growing institutional interest, with the largest single position valued at $687,000.

Shares of ZEEKR Intelligent Technology Holding Limited Unsponsored ADR (NYSE:ZK - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $29.28, but opened at $30.54. ZEEKR Intelligent Technology shares last traded at $30.15, with a volume of 134,813 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of ZEEKR Intelligent Technology from a "hold" rating to a "buy" rating in a research note on Sunday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, ZEEKR Intelligent Technology currently has an average rating of "Buy" and a consensus price target of $34.87.

ZEEKR Intelligent Technology Stock Performance

The stock has a fifty day simple moving average of $29.37 and a 200-day simple moving average of $26.66. The stock has a market cap of $7.79 billion, a P/E ratio of -16.80 and a beta of 0.08.

Hedge Funds Weigh In On ZEEKR Intelligent Technology

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in ZEEKR Intelligent Technology in the first quarter valued at $687,000. Robeco Institutional Asset Management B.V. bought a new position in shares of ZEEKR Intelligent Technology in the 1st quarter valued at about $398,000. Vontobel Holding Ltd. bought a new position in shares of ZEEKR Intelligent Technology in the 1st quarter valued at about $269,000. WT Asset Management Ltd bought a new position in ZEEKR Intelligent Technology in the first quarter valued at approximately $434,000. Finally, Krane Funds Advisors LLC bought a new position in ZEEKR Intelligent Technology in the first quarter valued at approximately $418,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.