XPeng (NYSE:XPEV) Shares Gap Up to $8.12

Shares of XPeng Inc. (NYSE:XPEV) gapped up prior to trading on Thursday . The stock had previously closed at $8.12, but opened at $8.74. XPeng shares last traded at $8.73, with a volume of 4,791,494 shares.

Analysts Set New Price Targets

XPEV has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target 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 shares of XPeng in a research report on Monday, April 15th. They issued a “neutral” rating and a $7.00 target price for the company. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.48.

XPeng Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 1.36. The stock’s 50 day moving average price is $8.43 and its two-hundred day moving average price is $11.67. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of -5.21 and a beta of 2.84.

XPeng (NYSE:XPEV) last released its earnings results on Tuesday, March 19th. The company reported ($0.21) earnings per share for the quarter. The firm had revenue of $1.84 billion for the quarter. XPeng had a negative return on equity of 31.17% and a negative net margin of 33.77%. On average, equities research analysts anticipate that XPeng Inc. will post -1.25 EPS for the current year.

Institutional Investors Weigh In On XPeng

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its stake in XPeng by 8,035.6% during the third quarter. FMR LLC now owns 5,311,499 shares of the company’s stock valued at $97,519,000 after acquiring an additional 5,246,212 shares during the period. Norges Bank bought a new stake in XPeng during the fourth quarter worth about $41,993,000. RWC Asset Advisors US LLC increased its holdings in shares of XPeng by 170.3% during the fourth quarter. RWC Asset Advisors US LLC now owns 4,434,392 shares of the company’s stock worth $64,698,000 after buying an additional 2,793,550 shares in the last quarter. UBS Group AG raised its stake in shares of XPeng by 1,500.6% in the third quarter. UBS Group AG now owns 2,442,935 shares of the company’s stock valued at $44,852,000 after acquiring an additional 2,290,309 shares during the last quarter. Finally, Electron Capital Partners LLC acquired a new position in shares of XPeng in the 4th quarter worth approximately $26,047,000. Institutional investors and hedge funds own 23.05% of the company’s stock.

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.