XPeng (NYSE:XPEV) Stock Price Up 8.7% – Time to Buy?

XPeng Inc. (NYSE:XPEV)’s share price was up 8.7% during trading on Friday . The stock traded as high as $19.29 and last traded at $19.24. Approximately 4,158,585 shares traded hands during trading, a decline of 60% from the average daily volume of 10,505,959 shares. The stock had previously closed at $17.70.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on XPEV shares. Sanford C. Bernstein upped 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 target for the company in a research report on Friday, November 22nd. Macquarie reissued a “neutral” rating and set a $18.00 price objective on shares of XPeng in a report on Friday, February 7th. The Goldman Sachs Group lowered 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. Finally, Citigroup cut their price target on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.91.

XPeng Trading Up 4.9 %

The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The stock has a 50-day simple moving average of $14.15 and a 200 day simple moving average of $11.82. The company has a market cap of $17.50 billion, a price-to-earnings ratio of -21.29 and a beta of 2.77.

Institutional Trading of XPeng

Several large investors have recently made changes to their positions in XPEV. Alibaba Group Holding Ltd boosted its stake in shares of XPeng by 21.2% in the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock worth $448,678,000 after buying an additional 6,650,000 shares during the last quarter. TMT General Partner Ltd acquired a new position in XPeng during the fourth quarter worth $205,501,000. JPMorgan Chase & Co. lifted its holdings in XPeng by 1,138.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock valued at $54,354,000 after purchasing an additional 4,227,055 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of XPeng during the third quarter worth about $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in XPeng by 947.5% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock valued at $20,800,000 after purchasing an additional 1,591,750 shares during the last quarter. 21.09% of the stock is owned by hedge funds and other institutional investors.

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.