XPeng (NYSE:XPEV) Shares Up 5.7% – Should You Buy?

XPeng Inc. (NYSE:XPEV)’s share price was up 5.7% during trading on Tuesday . The stock traded as high as $12.91 and last traded at $12.76. Approximately 4,102,614 shares traded hands during trading, a decline of 69% from the average daily volume of 13,424,447 shares. The stock had previously closed at $12.07.

Wall Street Analysts Forecast Growth

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

XPeng Price Performance

The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $10.58 and a 200 day moving average of $8.83. The stock has a market capitalization of $11.59 billion, a PE ratio of -10.08 and a beta of 2.80.

XPeng (NYSE:XPEV) last announced its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. The business had revenue of $1.12 billion for the quarter. Sell-side analysts predict that XPeng Inc. will post -0.96 EPS for the current year.

Institutional Investors Weigh In On XPeng

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Natixis purchased a new position in shares of XPeng during the 1st quarter worth $38,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in XPeng by 122.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after buying an additional 2,920 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in XPeng in the 3rd quarter valued at about $45,000. Blue Trust Inc. raised its holdings in XPeng by 2,615.9% in the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after buying an additional 9,391 shares during the period. Finally, 180 Wealth Advisors LLC purchased a new stake in XPeng in the 2nd quarter valued at about $78,000. Institutional investors and hedge funds 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.