XPeng (NYSE:XPEV) Shares Gap Up to $7.15

XPeng Inc. (NYSE:XPEV)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $7.15, but opened at $7.42. XPeng shares last traded at $7.49, with a volume of 13,651,735 shares.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on XPeng from $19.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, February 23rd. Macquarie assumed coverage on XPeng in a report on Monday. They set a “neutral” rating and a $7.00 target price for the company. Three analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.48.

XPeng Stock Performance

The firm has a fifty day moving average price of $8.70 and a 200 day moving average price of $12.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 1.51. The stock has a market cap of $6.53 billion, a PE ratio of -4.19 and a beta of 2.93.

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

Hedge Funds Weigh In On XPeng

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of XPeng by 3.2% in the 1st quarter. BlackRock Inc. now owns 20,215,942 shares of the company’s stock valued at $557,756,000 after acquiring an additional 619,993 shares during the period. Vanguard Group Inc. grew its position in XPeng by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 19,696,586 shares of the company’s stock worth $235,374,000 after purchasing an additional 356,174 shares during the period. Primecap Management Co. CA grew its position in XPeng by 5.3% during the 4th quarter. Primecap Management Co. CA now owns 12,497,823 shares of the company’s stock worth $182,343,000 after purchasing an additional 624,926 shares during the period. State Street Corp grew its position in XPeng by 3.8% during the 2nd quarter. State Street Corp now owns 7,901,438 shares of the company’s stock worth $250,792,000 after purchasing an additional 292,396 shares during the period. Finally, Robeco Schweiz AG grew its position in XPeng by 14.9% during the 1st quarter. Robeco Schweiz AG now owns 5,407,600 shares of the company’s stock worth $149,196,000 after purchasing an additional 701,600 shares during the period. 23.05% of the stock is owned by institutional investors and hedge funds.

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.