XPeng (NYSE:XPEV) Stock Price Up 6.7% – Here’s Why

XPeng Inc. (NYSE:XPEV) was up 6.7% on Thursday . The company traded as high as $13.98 and last traded at $13.93. Approximately 2,509,734 shares changed hands during trading, a decline of 75% from the average daily volume of 10,032,017 shares. The stock had previously closed at $13.05.

Wall Street Analyst Weigh In

Several analysts recently issued reports on XPEV shares. Sanford C. Bernstein upped their price target on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a research note on Thursday, November 21st. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target on the stock in a research report on Friday, November 22nd. Citigroup decreased their target price on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Finally, UBS Group reissued 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.69.

XPeng Stock Performance

The firm’s fifty day moving average price is $12.61 and its 200-day moving average price is $10.54. 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 cap of $13.32 billion, a P/E ratio of -16.26 and a beta of 2.74.

Institutional Trading of XPeng

Several institutional investors have recently bought and sold shares of the stock. TMT General Partner Ltd acquired a new stake in shares of XPeng during the fourth quarter worth approximately $205,501,000. Bank of Montreal Can boosted its stake in XPeng by 212.1% in the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock worth $31,910,000 after purchasing an additional 2,724,549 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of XPeng during the third quarter worth $22,047,000. Point72 Europe London LLP bought a new stake in shares of XPeng during the second quarter worth $5,923,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of XPeng in the third quarter valued at about $6,233,000. Institutional investors and hedge funds own 21.09% of the company’s stock.

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.