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

XPeng Inc. (NYSE:XPEV)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $20.22, but opened at $21.45. XPeng shares last traded at $21.34, with a volume of 2,009,086 shares.

Analysts Set New Price Targets

XPEV has been the topic of several research reports. UBS Group upgraded shares of XPeng from a “sell” rating to a “neutral” rating and upped their price target for the stock from $8.80 to $18.00 in a research report on Monday, February 24th. Sanford C. Bernstein upped their target price on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research report 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 report on Friday, November 22nd. 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 report on Thursday, November 21st. Finally, Macquarie reiterated a “neutral” rating and issued a $18.00 price objective on shares of XPeng in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.93.

XPeng Stock Up 2.7 %

The business has a fifty day moving average of $15.72 and a 200 day moving average of $12.77. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The firm has a market cap of $20.96 billion, a P/E ratio of -25.58 and a beta of 2.68.

Institutional Investors Weigh In On XPeng

Hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of XPeng by 14.2% in the 4th quarter. Van ECK Associates Corp now owns 253,875 shares of the company’s stock valued at $3,001,000 after buying an additional 31,538 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of XPeng in the third quarter worth about $6,233,000. FMR LLC raised its position in shares of XPeng by 1,053.8% during 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 during the period. Savant Capital LLC bought a new position in shares of XPeng during the 4th quarter valued at about $229,000. Finally, TMT General Partner Ltd bought a new stake in XPeng during the 4th quarter worth approximately $205,501,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.

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.