XPeng (NYSE:XPEV) Sees Large Volume Increase After Better-Than-Expected Earnings

Shares of XPeng Inc. Sponsored ADR (NYSE:XPEV) saw unusually-high trading volume on Monday following a stronger than expected earnings report. Approximately 15,570,155 shares were traded during trading, an increase of 54% from the previous session’s volume of 10,089,409 shares.The stock last traded at $23.15 and had previously closed at $25.01.

The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.41. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $20.48 billion. XPeng had a negative return on equity of 9.22% and a negative net margin of 4.02%.

Analyst Ratings Changes

A number of analysts have recently weighed in on XPEV shares. CLSA raised XPeng to a “strong-buy” rating in a research note on Monday, September 22nd. Morgan Stanley reiterated an “overweight” rating and set a $34.00 price target on shares of XPeng in a report on Tuesday, November 11th. BNP Paribas Exane started coverage on shares of XPeng in a report on Monday, August 18th. They issued a “neutral” rating and a $19.00 price target on the stock. BNP Paribas began coverage on shares of XPeng in a research report on Monday, August 18th. They issued a “hold” rating on the stock. Finally, Bank of America increased 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, August 19th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.70.

Institutional Investors Weigh In On XPeng

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of XPeng by 16.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,694 shares of the company’s stock valued at $63,000 after purchasing an additional 389 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in XPeng by 3.9% in the second quarter. SBI Securities Co. Ltd. now owns 17,613 shares of the company’s stock worth $315,000 after buying an additional 655 shares during the period. Greenleaf Trust lifted its holdings in XPeng by 4.7% in the third quarter. Greenleaf Trust now owns 17,005 shares of the company’s stock worth $398,000 after buying an additional 770 shares during the period. Parallel Advisors LLC boosted its position in XPeng by 11.0% during the 3rd quarter. Parallel Advisors LLC now owns 9,709 shares of the company’s stock valued at $227,000 after acquiring an additional 964 shares in the last quarter. Finally, Atlas Capital Advisors Inc. grew its holdings in shares of XPeng by 651.0% during the 1st quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company’s stock worth $31,000 after acquiring an additional 1,302 shares during the period. 21.09% of the stock is owned by hedge funds and other institutional investors.

XPeng Price Performance

The stock has a market cap of $21.50 billion, a PE ratio of -53.94 and a beta of 2.54. The business has a fifty day simple moving average of $22.67 and a two-hundred day simple moving average of $20.69. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22.

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.