XPeng (NYSE:XPEV) Sees Large Volume Increase – Here’s What Happened

XPeng Inc. (NYSE:XPEVGet Free Report) saw an uptick in trading volume on Monday . 6,070,821 shares traded hands during mid-day trading, a decline of 55% from the previous session’s volume of 13,407,901 shares.The stock last traded at $12.13 and had previously closed at $12.90.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Bank of America decreased their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Finally, Citigroup decreased their price objective on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $9.42.

Check Out Our Latest Stock Report on XPeng

XPeng Price Performance

The company has a 50-day moving average of $9.14 and a 200-day moving average of $8.38. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of -8.13 and a beta of 2.79.

XPeng (NYSE:XPEVGet Free Report) last released its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. The company had revenue of $1.12 billion during the quarter. As a group, equities research analysts predict that XPeng Inc. will post -0.95 earnings per share for the current year.

Institutional Investors Weigh In On XPeng

A number of hedge funds have recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its stake in shares of XPeng by 5.6% during the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock worth $120,369,000 after buying an additional 872,160 shares in the last quarter. Bank of Montreal Can raised its position in XPeng by 212.1% in the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock worth $31,910,000 after acquiring an additional 2,724,549 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in XPeng by 73.7% in the first quarter. Russell Investments Group Ltd. now owns 1,415,568 shares of the company’s stock valued at $10,872,000 after acquiring an additional 600,437 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of XPeng by 100.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock worth $8,864,000 after purchasing an additional 550,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of XPeng by 35.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company’s stock worth $7,516,000 after purchasing an additional 257,300 shares during the period. Institutional investors and hedge funds own 23.05% of the company’s stock.

XPeng Company Profile

(Get Free Report)

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.

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