XPeng (NYSE:XPEV) Shares Gap Up – Still a Buy?

XPeng Inc. (NYSE:XPEV)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $12.50, but opened at $13.68. XPeng shares last traded at $14.59, with a volume of 8,717,312 shares.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $8.00 to $11.50 in a report on Thursday, September 5th. The Goldman Sachs Group lowered shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target on the stock. in a research note on Thursday, November 21st. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. UBS Group reaffirmed a “sell” rating and issued a $8.80 target price (up from $8.20) on shares of XPeng in a research report on Thursday, December 5th. Finally, China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective for the company in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.69.

XPeng Stock Performance

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 stock has a market cap of $12.39 billion, a price-to-earnings ratio of -15.12 and a beta of 2.76. The stock’s 50 day moving average is $12.28 and its two-hundred day moving average is $9.62.

Hedge Funds Weigh In On XPeng

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Primecap Management Co. CA grew its position in XPeng by 5.6% in the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after buying an additional 872,160 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of XPeng by 212.1% in the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after acquiring an additional 2,724,549 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of XPeng in the third quarter valued at about $22,047,000. Point72 Europe London LLP acquired a new position in shares of XPeng during the second quarter worth about $5,923,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in XPeng during the third quarter worth about $6,233,000. Hedge funds and other 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.