XPeng (NYSE:XPEV) Shares Gap Up – Here’s Why

XPeng Inc. (NYSE:XPEV)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $19.70, but opened at $20.22. XPeng shares last traded at $20.62, with a volume of 2,107,798 shares traded.

Analyst Upgrades and Downgrades

XPEV has been the subject of a number of research reports. Barclays boosted their target price on shares of XPeng from $7.00 to $20.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Macquarie reissued a “neutral” rating and issued a $18.00 target price on shares of XPeng in a report on Friday, February 7th. JPMorgan Chase & Co. dropped their target price on XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 19th. Citigroup raised shares of XPeng from a “neutral” rating to a “buy” rating and upped their price target for the company from $13.70 to $29.00 in a research report on Monday, March 10th. Finally, Daiwa America lowered shares of XPeng from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.20.

XPeng Price Performance

The firm has a market cap of $19.49 billion, a P/E ratio of -23.83 and a beta of 2.68. The firm’s fifty day simple moving average is $19.05 and its 200 day simple moving average is $14.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

XPeng (NYSE:XPEV) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.36) by $1.17. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $16.11 billion. As a group, analysts forecast that XPeng Inc. will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On XPeng

Several institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in XPeng by 5.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,044 shares of the company’s stock valued at $154,000 after acquiring an additional 716 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of XPeng by 55.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after acquiring an additional 898 shares during the period. Quadrant Capital Group LLC raised its stake in shares of XPeng by 3.9% during the fourth quarter. Quadrant Capital Group LLC now owns 24,192 shares of the company’s stock valued at $286,000 after acquiring an additional 913 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of XPeng by 7.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 14,386 shares of the company’s stock valued at $170,000 after purchasing an additional 1,027 shares during the period. Finally, Lindbrook Capital LLC grew its stake in XPeng by 50.7% in the fourth quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after purchasing an additional 1,138 shares in the last quarter. Institutional investors 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.