Short Interest in XPeng Inc. (NYSE:XPEV) Increases By 16.0%

XPeng Inc. (NYSE:XPEV) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 49,880,000 shares, a growth of 16.0% from the November 15th total of 43,010,000 shares. Based on an average daily trading volume, of 15,400,000 shares, the short-interest ratio is presently 3.2 days.

Institutional Trading of XPeng

A number of hedge funds and other institutional investors have recently modified their holdings of XPEV. Primecap Management Co. CA lifted its position in XPeng by 5.6% during the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after purchasing an additional 872,160 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of XPeng by 212.1% in the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock worth $31,910,000 after acquiring an additional 2,724,549 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of XPeng in the 3rd quarter worth about $22,047,000. Point72 Europe London LLP bought a new stake in shares of XPeng in the 2nd quarter worth about $5,923,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of XPeng in the 3rd quarter worth about $6,233,000. 21.09% of the stock is owned by hedge funds and other institutional investors.

XPeng Stock Performance

XPEV stock traded up $0.55 during midday trading on Tuesday, reaching $12.94. 3,054,200 shares of the company’s stock traded hands, compared to its average volume of 13,518,657. The stock’s 50-day moving average is $12.25 and its 200 day moving average is $9.77. 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 $12.19 billion, a P/E ratio of -14.24 and a beta of 2.76. XPeng has a 52-week low of $6.55 and a 52-week high of $15.68.

Analysts Set New Price Targets

A number of analysts recently weighed in on XPEV shares. Citigroup decreased their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a 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 on the stock in a research report on Friday, November 22nd. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. upgraded shares of 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 research note on Thursday, September 5th. Finally, The Goldman Sachs Group lowered shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective for the company. in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, XPeng currently has a consensus rating of “Moderate Buy” and an average price target of $11.69.

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.