XPeng (NYSE:XPEV) Shares Up 4.4% – Here’s Why

Shares of XPeng Inc. (NYSE:XPEV) traded up 4.4% on Tuesday . The stock traded as high as $12.98 and last traded at $12.94. 3,054,200 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 13,518,657 shares. The stock had previously closed at $12.39.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group reaffirmed a “sell” rating and issued a $8.80 price objective (up from $8.20) on shares of XPeng in a research note on Thursday, December 5th. Citigroup cut their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $8.00 to $11.50 in a report on Thursday, September 5th. The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target on the stock. in a report on Thursday, November 21st. Finally, China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective for the company in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.69.

XPeng Trading Down 2.8 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The stock has a market capitalization of $11.76 billion, a PE ratio of -14.34 and a beta of 2.76. The company has a 50 day moving average of $12.27 and a two-hundred day moving average of $9.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in shares of XPeng by 2,615.9% in the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock worth $75,000 after purchasing an additional 9,391 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in XPeng by 119.6% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 111,364 shares of the company’s stock worth $816,000 after purchasing an additional 60,643 shares in the last quarter. Signaturefd LLC grew its holdings in XPeng by 19.4% in the second quarter. Signaturefd LLC now owns 24,647 shares of the company’s stock valued at $181,000 after purchasing an additional 4,002 shares during the period. Renaissance Technologies LLC acquired a new stake in XPeng in the 2nd quarter valued at $1,006,000. Finally, Primecap Management Co. CA grew its position in shares of XPeng by 5.6% in the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after purchasing an additional 872,160 shares during the period. Hedge funds and other institutional investors own 21.09% 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.