XPeng (NYSE:XPEV) Sees Strong Trading Volume

XPeng Inc. (NYSE:XPEVGet Rating) shares saw unusually-high trading volume on Wednesday . Approximately 615,914 shares were traded during mid-day trading, a decline of 96% from the previous session’s volume of 16,193,227 shares.The stock last traded at $14.51 and had previously closed at $15.93.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on XPEV shares. Barclays lowered shares of XPeng from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $30.00 to $22.00 in a report on Tuesday, August 23rd. Citigroup dropped their price objective on shares of XPeng from $51.59 to $27.87 and set a “buy” rating for the company in a report on Wednesday, August 24th. Macquarie lowered shares of XPeng from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a report on Wednesday, August 3rd. Nomura lowered shares of XPeng from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $64.60 to $36.30 in a report on Thursday, June 30th. Finally, Nomura Instinet reiterated a “neutral” rating and issued a $36.30 price objective on shares of XPeng in a report on Friday, July 1st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.92.

XPeng Price Performance

The firm’s 50 day moving average price is $20.79 and its two-hundred day moving average price is $24.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.97 and a quick ratio of 1.78.

XPeng (NYSE:XPEVGet Rating) last released its quarterly earnings data on Tuesday, August 23rd. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($2.61) by $2.14. The company had revenue of $1.11 billion during the quarter. XPeng had a negative net margin of 24.82% and a negative return on equity of 17.44%. Analysts forecast that XPeng Inc. will post -3.82 EPS for the current fiscal year.

Institutional Trading of XPeng

Several hedge funds have recently bought and sold shares of the business. Royal London Asset Management Ltd. grew its position in XPeng by 10.5% in the 2nd quarter. Royal London Asset Management Ltd. now owns 586,400 shares of the company’s stock valued at $18,624,000 after purchasing an additional 55,900 shares during the period. Legal & General Group Plc grew its position in XPeng by 13.2% in the 2nd quarter. Legal & General Group Plc now owns 4,084,660 shares of the company’s stock valued at $129,647,000 after purchasing an additional 476,486 shares during the period. ExodusPoint Capital Management LP grew its position in XPeng by 58.6% in the 2nd quarter. ExodusPoint Capital Management LP now owns 251,455 shares of the company’s stock valued at $7,981,000 after purchasing an additional 92,933 shares during the period. National Pension Service boosted its holdings in XPeng by 1,083.1% during the 2nd quarter. National Pension Service now owns 79,316 shares of the company’s stock worth $2,517,000 after acquiring an additional 72,612 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in XPeng during the 2nd quarter worth $886,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

About XPeng

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XPeng Inc designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. It offers SUVs under the G3 and G3i names; four-door sports sedans under the P7 name; and family sedans under the P5 name. The company also provides sales contracts, maintenance, super charging, vehicle leasing, insurance agency, ride-hailing, technical support, automotive loan referral and auto financing, music subscription, and other services.

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