XPeng (NYSE:XPEV) Sees Strong Trading Volume – Should You Buy?

XPeng Inc. (NYSE:XPEV) saw unusually-high trading volume on Tuesday . Approximately 7,497,459 shares were traded during mid-day trading, a decline of 45% from the previous session’s volume of 13,646,343 shares.The stock last traded at $12.17 and had previously closed at $13.01.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on XPEV. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Bank of America cut their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Citigroup cut their price target on shares of XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. Finally, Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $9.42.

XPeng Stock Performance

The firm’s 50-day simple moving average is $11.53 and its 200-day simple moving average is $9.19. The company has a market capitalization of $11.72 billion, a PE ratio of -9.95 and a beta of 2.80. The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last issued its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. The business had revenue of $1.12 billion for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. On average, research analysts predict that XPeng Inc. will post -1 earnings per share for the current year.

Hedge Funds Weigh In On XPeng

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of XPeng in the third quarter worth about $6,233,000. Quantinno Capital Management LP raised its position in XPeng by 99.2% during the 3rd quarter. Quantinno Capital Management LP now owns 27,153 shares of the company’s stock worth $331,000 after buying an additional 13,520 shares during the last quarter. Point72 Italy S.r.l. acquired a new stake in XPeng during the 3rd quarter valued at approximately $1,160,000. Polymer Capital Management HK LTD purchased a new stake in shares of XPeng in the 3rd quarter valued at $487,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of XPeng in the third quarter worth $22,047,000. Hedge funds and other institutional investors own 23.05% of the company’s stock.

About XPeng

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EVs) in the People's Republic of China. It offers SUVs under the G3, G3i, and G9 names; four-door sports sedans under the P7 and P7i names; and family sedans under the P5 name. The company also provides sales contracts, super charging, maintenance, technical support, auto financing, insurance, technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.