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

ZEEKR Intelligent Technology Holding Limited Unsponsored ADR (NYSE:ZK)’s share price gapped up before the market opened 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 traded.

Analyst Ratings Changes

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

ZEEKR Intelligent Technology Stock Up 3.8%

The firm has a 50 day simple moving average of $29.37 and a two-hundred day simple moving average of $26.66. The stock has a market capitalization of $7.79 billion, a P/E ratio of -16.80 and a beta of 0.08.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in ZEEKR Intelligent Technology by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 821,105 shares of the company’s stock valued at $19,780,000 after purchasing an additional 41,518 shares during the last quarter. MY.Alpha Management HK Advisors Ltd bought a new position in ZEEKR Intelligent Technology in the second quarter valued at about $15,730,000. JPMorgan Chase & Co. raised its holdings in ZEEKR Intelligent Technology by 691.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 372,825 shares of the company’s stock valued at $9,507,000 after buying an additional 325,691 shares during the last quarter. Norges Bank bought a new position in shares of ZEEKR Intelligent Technology during the second quarter valued at $9,252,000. Finally, Millennium Management LLC raised its position 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 last quarter.

ZEEKR Intelligent Technology Company Profile

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.