XPeng (NYSE:XPEV) Shares Gap Up to $8.92

XPeng Inc. (NYSE:XPEV)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $8.92, but opened at $9.16. XPeng shares last traded at $9.42, with a volume of 1,881,940 shares trading hands.

Wall Street Analyst Weigh In

XPEV has been the subject of a number of research analyst reports. Bank of America decreased their target price on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Daiwa Capital Markets upgraded shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Thursday, May 23rd. Daiwa America raised shares of XPeng to a “strong-buy” rating in a research report on Thursday, May 23rd. Citigroup decreased their price target on XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. Finally, Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $12.08.

XPeng Trading Up 1.6 %

The business’s 50-day moving average is $7.91 and its two-hundred day moving average is $8.10. The stock has a market capitalization of $8.53 billion, a PE ratio of -6.36 and a beta of 2.75. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last released its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The firm had revenue of $1.12 billion for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. On average, analysts anticipate that XPeng Inc. will post -0.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XPeng

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jump Financial LLC acquired a new stake in shares of XPeng in the fourth quarter valued at about $326,000. Norges Bank acquired a new position in shares of XPeng in the fourth quarter worth $41,993,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of XPeng in the fourth quarter valued at $527,000. Primecap Management Co. CA boosted its stake in shares of XPeng by 5.3% during the fourth quarter. Primecap Management Co. CA now owns 12,497,823 shares of the company’s stock valued at $182,343,000 after acquiring an additional 624,926 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in XPeng during the 4th quarter worth about $360,000. Institutional investors and hedge funds own 23.05% 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.