XPeng (NYSE:XPEV) Shares Gap Up – What’s Next?

XPeng Inc. (NYSE:XPEV)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $15.69, but opened at $16.54. XPeng shares last traded at $16.92, with a volume of 5,095,052 shares changing hands.

Analyst Ratings Changes

XPEV has been the subject of a number of research analyst reports. The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price for the company. in a report on Thursday, November 21st. UBS Group reissued a “sell” rating and set a $8.80 price objective (up from $8.20) on shares of XPeng in a research note on Thursday, December 5th. Sanford C. Bernstein raised their price objective on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective for the company in a research note on Friday, November 22nd. Finally, Citigroup dropped their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.69.

XPeng Stock Performance

The company has a market cap of $16.13 billion, a price-to-earnings ratio of -19.67 and a beta of 2.77. The stock’s fifty day simple moving average is $13.05 and its two-hundred day simple moving average is $11.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

Institutional Trading of XPeng

Hedge funds and other institutional investors have recently modified their holdings of the business. TMT General Partner Ltd acquired a new stake in shares of XPeng during the fourth quarter worth approximately $205,501,000. Point72 Hong Kong Ltd bought a new stake in shares of XPeng in the 3rd quarter worth about $22,047,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of XPeng in the 3rd quarter valued at about $6,233,000. Central Asset Investments & Management Holdings HK Ltd lifted its position in shares of XPeng by 36.0% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock worth $4,969,000 after purchasing an additional 108,000 shares during the last quarter. Finally, FMR LLC grew its stake in XPeng by 1,053.8% in the third quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after purchasing an additional 295,536 shares in the last quarter. 21.09% of the stock is owned by hedge funds and other institutional investors.

XPeng Company Profile

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.