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

Shares of XPeng Inc. (NYSE:XPEV) gapped up before the market opened on Tuesday . The stock had previously closed at $11.81, but opened at $12.88. XPeng shares last traded at $13.00, with a volume of 2,916,721 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on XPEV. The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective on the stock. in a research report on Thursday, November 21st. UBS Group restated a “sell” rating and set a $8.80 price target (up previously from $8.20) on shares of XPeng in a report on Thursday, December 5th. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a research report on Friday, November 22nd. Citigroup reduced their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Finally, Sanford C. Bernstein raised their price target on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.69.

XPeng Stock Up 7.4 %

The company has a 50-day moving average of $12.61 and a 200-day moving average of $10.41. 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 company has a market capitalization of $11.94 billion, a price-to-earnings ratio of -14.57 and a beta of 2.74.

Institutional Investors Weigh In On XPeng

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in XPeng in the 3rd quarter valued at about $6,233,000. FMR LLC lifted its stake in XPeng by 1,053.8% in the 3rd 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. Renaissance Technologies LLC purchased a new stake in shares of XPeng in the second quarter valued at approximately $1,006,000. Point72 Hong Kong Ltd acquired a new stake in shares of XPeng in the third quarter valued at approximately $22,047,000. Finally, Central Asset Investments & Management Holdings HK Ltd lifted its position in 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 buying an additional 108,000 shares in the last quarter. Institutional investors and hedge funds own 21.09% 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.