XPeng (NYSE:XPEV) Shares Gap Up – What’s Next?

XPeng Inc. (NYSE:XPEV) shares gapped up before the market opened on Tuesday . The stock had previously closed at $14.13, but opened at $14.92. XPeng shares last traded at $14.79, with a volume of 3,369,079 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on XPEV. The Goldman Sachs Group lowered XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a research note on Thursday, November 21st. Sanford C. Bernstein upped their price objective on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective for the company in a research report on Friday, November 22nd. Citigroup reduced their target price on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Finally, UBS Group reiterated a “sell” rating and set a $8.80 price target (up from $8.20) on shares of XPeng in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $11.69.

XPeng Stock Performance

The company has a market cap of $13.68 billion, a price-to-earnings ratio of -16.70 and a beta of 2.74. 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’s 50 day moving average price is $12.63 and its 200 day moving average price is $10.69.

Institutional Trading of XPeng

Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new position in XPeng in the second quarter valued at $1,006,000. Sei Investments Co. raised its holdings in shares of XPeng by 15.7% in the 2nd quarter. Sei Investments Co. now owns 149,710 shares of the company’s stock worth $1,097,000 after purchasing an additional 20,310 shares during the period. Bank of Montreal Can lifted its stake 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 valued at $31,910,000 after purchasing an additional 2,724,549 shares in the last quarter. Point72 Europe London LLP purchased a new stake in shares of XPeng during the 2nd quarter worth about $5,923,000. Finally, Susquehanna International Securities Ltd. acquired a new stake in XPeng during the 2nd quarter worth approximately $129,000. 21.09% of the stock is owned by hedge funds and other institutional investors.

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.