XPeng (NYSE:XPEV) Shares Gap Up – Should You Buy?

XPeng Inc. (NYSE:XPEV)’s share price gapped up before the market opened on Friday . The stock had previously closed at $18.67, but opened at $19.86. XPeng shares last traded at $19.72, with a volume of 2,134,965 shares changing hands.

Analyst Upgrades and Downgrades

XPEV has been the subject of a number of analyst reports. Daiwa Capital Markets reiterated a “neutral” rating and set a $24.00 price target on shares of XPeng in a research report on Wednesday, March 19th. Citigroup raised XPeng from a “neutral” rating to a “buy” rating and upped their price target for the company from $13.70 to $29.00 in a report on Monday, March 10th. Nomura raised shares of XPeng from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $30.00 in a research report on Wednesday, March 19th. UBS Group raised XPeng from a “sell” rating to a “neutral” rating and upped their price target for the company from $8.80 to $18.00 in a research report on Monday, February 24th. Finally, Bank of America boosted their price objective on shares of XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.20.

XPeng Trading Up 5.9 %

The company has a fifty day simple moving average of $20.63 and a two-hundred day simple moving average of $15.93. The company has a market capitalization of $18.77 billion, a P/E ratio of -22.74 and a beta of 2.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

XPeng (NYSE:XPEV) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.36) by $1.17. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. On average, analysts forecast that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XPeng

Institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its holdings in XPeng by 70.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company’s stock valued at $27,000 after buying an additional 532 shares during the last quarter. Garde Capital Inc. acquired a new stake in shares of XPeng in the first quarter worth $39,000. EverSource Wealth Advisors LLC grew its stake in shares of XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after acquiring an additional 898 shares during the last quarter. Avior Wealth Management LLC increased its position in XPeng by 1,215.2% during the fourth quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock worth $33,000 after acquiring an additional 2,564 shares during the period. Finally, Lindbrook Capital LLC raised its stake in XPeng by 50.7% during the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock valued at $40,000 after purchasing an additional 1,138 shares during the last quarter. 21.09% of the stock is currently owned by 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.