XPENG (NYSE:XPEV) Trading 5.4% Higher – Here’s Why

XPENG Inc. Sponsored ADR (NYSE:XPEV)’s stock price traded up 5.4% on Friday . The stock traded as high as $20.45 and last traded at $20.6180. 1,449,580 shares changed hands during trading, a decline of 86% from the average session volume of 10,045,602 shares. The stock had previously closed at $19.57.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on XPEV. Daiwa America upgraded shares of XPENG from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Daiwa Capital Markets upgraded XPENG from a “neutral” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Tuesday, November 18th. Morgan Stanley reissued an “overweight” rating and set a $34.00 price target on shares of XPENG in a report on Tuesday, November 11th. CLSA upgraded XPENG to a “strong-buy” rating in a research report on Monday, September 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of XPENG in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.37.

XPENG Trading Up 6.2%

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.12 and a quick ratio of 0.95. The stock has a 50-day moving average price of $21.49 and a two-hundred day moving average price of $20.67. The stock has a market cap of $19.72 billion, a PE ratio of -49.47 and a beta of 1.05.

XPENG (NYSE:XPEV) last announced its quarterly earnings results on Monday, November 17th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.41. XPENG had a negative return on equity of 9.25% and a negative net margin of 4.02%.The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $20.48 billion. Sell-side analysts forecast that XPENG Inc. Sponsored ADR will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of XPENG

A number of large investors have recently made changes to their positions in XPEV. Bayforest Capital Ltd lifted its stake in shares of XPENG by 145.5% in the 1st quarter. Bayforest Capital Ltd now owns 2,283 shares of the company’s stock valued at $47,000 after purchasing an additional 1,353 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in 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 buying an additional 389 shares during the period. FNY Investment Advisers LLC raised its holdings in XPENG by 18,967.9% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $178,000 after buying an additional 10,053 shares during the period. Parallel Advisors LLC lifted its position in XPENG by 11.0% in the third quarter. Parallel Advisors LLC now owns 9,709 shares of the company’s stock worth $227,000 after buying an additional 964 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in XPENG during the third quarter worth $249,000. 21.09% of the stock is currently owned by institutional investors.

XPENG Company Profile

XPENG Inc (NYSE: XPEV) is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.

Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.