XPeng (NYSE:XPEV) Shares Gap Up to $7.08

XPeng Inc. (NYSE:XPEV) gapped up prior to trading on Friday . The stock had previously closed at $7.08, but opened at $7.69. XPeng shares last traded at $7.82, with a volume of 6,863,925 shares.

Wall Street Analysts Forecast Growth

XPEV has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on XPeng from $19.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, February 23rd. Macquarie initiated coverage on XPeng in a research note on Monday, April 15th. They issued a “neutral” rating and a $7.00 target price on the stock. Three analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.48.

XPeng Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 1.36. The firm has a market capitalization of $7.39 billion, a P/E ratio of -4.67 and a beta of 2.93. The firm’s 50 day simple moving average is $8.49 and its two-hundred day simple moving average is $11.84.

XPeng (NYSE:XPEV) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.21) earnings per share for the quarter. The business had revenue of $1.84 billion during the quarter. XPeng had a negative return on equity of 31.17% and a negative net margin of 33.77%. As a group, analysts predict that XPeng Inc. will post -1.25 earnings per share for the current year.

Institutional Trading of XPeng

Several hedge funds have recently added to or reduced their stakes in XPEV. FMR LLC raised its stake in shares of XPeng by 8,035.6% during the third quarter. FMR LLC now owns 5,311,499 shares of the company’s stock valued at $97,519,000 after acquiring an additional 5,246,212 shares during the last quarter. Norges Bank bought a new position in shares of XPeng during the fourth quarter valued at about $41,993,000. RWC Asset Advisors US LLC raised its stake in shares of XPeng by 170.3% during the fourth quarter. RWC Asset Advisors US LLC now owns 4,434,392 shares of the company’s stock valued at $64,698,000 after acquiring an additional 2,793,550 shares during the last quarter. UBS Group AG raised its stake in shares of XPeng by 1,500.6% during the third quarter. UBS Group AG now owns 2,442,935 shares of the company’s stock valued at $44,852,000 after acquiring an additional 2,290,309 shares during the last quarter. Finally, Electron Capital Partners LLC purchased a new position in shares of XPeng during the fourth quarter valued at about $26,047,000. 23.05% of the stock is owned by institutional investors.

About XPeng

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EV) 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, maintenance, super charging, technical support, auto financing, insurance technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.