XPeng (NYSE:XPEV) Shares Up 5.2% After Better-Than-Expected Earnings

XPeng Inc. Sponsored ADR (NYSE:XPEV) shot up 5.2% on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $20.62 and last traded at $20.93. 6,726,621 shares were traded during trading, a decline of 30% from the average session volume of 9,645,346 shares. The stock had previously closed at $19.90.

The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.51) by $1.41. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $15.80 billion. XPeng had a negative net margin of 10.20% and a negative return on equity of 15.89%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. The Goldman Sachs Group raised shares of XPeng from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $16.40 to $24.00 in a report on Tuesday, June 17th. Bank of America lifted their target price on shares of XPeng from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley set a $28.00 target price on shares of XPeng and gave the stock an “overweight” rating in a report on Thursday, June 12th. Sanford C. Bernstein set a $19.00 target price on shares of XPeng and gave the stock a “market perform” rating in a report on Thursday, May 22nd. Finally, BNP Paribas Exane began coverage on shares of XPeng in a report on Monday. They set a “neutral” rating and a $19.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.82.

Hedge Funds Weigh In On XPeng

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of 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 in the last quarter. SBI Securities Co. Ltd. raised its position in shares of XPeng by 3.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 17,613 shares of the company’s stock valued at $315,000 after buying an additional 655 shares in the last quarter. Ballentine Partners LLC raised its position in shares of XPeng by 5.3% in the 1st quarter. Ballentine Partners LLC now owns 22,798 shares of the company’s stock valued at $472,000 after buying an additional 1,151 shares in the last quarter. Atlas Capital Advisors Inc. raised its position in shares of XPeng by 651.0% in the 1st quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company’s stock valued at $31,000 after buying an additional 1,302 shares in the last quarter. Finally, Bayforest Capital Ltd increased its position in XPeng by 145.5% during the 1st quarter. Bayforest Capital Ltd now owns 2,283 shares of the company’s stock worth $47,000 after purchasing an additional 1,353 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors and hedge funds.

XPeng Stock Performance

The stock’s 50-day moving average is $18.80 and its 200-day moving average is $19.46. The firm has a market capitalization of $19.65 billion, a price-to-earnings ratio of -27.61 and a beta of 2.50. The company has a current ratio of 1.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.34.

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.