XPeng (NYSE:XPEV) Sets New 12-Month High – Should You Buy?

Shares of XPeng Inc. (NYSE:XPEV) hit a new 52-week high on Thursday . The stock traded as high as $15.89 and last traded at $15.70, with a volume of 5589820 shares. The stock had previously closed at $14.81.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on XPEV. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price on the stock in a research report on Friday, November 22nd. UBS Group reiterated a “sell” rating and issued a $8.80 price target (up previously from $8.20) on shares of XPeng in a report on Thursday, December 5th. Citigroup dropped their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Sanford C. Bernstein lifted their target price on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.69.

XPeng Stock Up 5.0 %

The firm has a 50-day simple moving average of $12.84 and a 200 day simple moving average of $10.92. The company has a market capitalization of $14.65 billion, a PE ratio of -17.88 and a beta of 2.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. TMT General Partner Ltd acquired a new position in shares of XPeng in the 4th quarter valued at approximately $205,501,000. Point72 Hong Kong Ltd acquired a new stake in XPeng in the third quarter valued at $22,047,000. Y Intercept Hong Kong Ltd bought a new position in XPeng during the 3rd quarter valued at $6,233,000. Central Asset Investments & Management Holdings HK Ltd grew its holdings in XPeng by 36.0% during the 3rd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock worth $4,969,000 after acquiring an additional 108,000 shares in the last quarter. Finally, FMR LLC increased its position in shares of XPeng by 1,053.8% in the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after purchasing an additional 295,536 shares during the last quarter. 21.09% of the stock is owned by institutional investors and hedge funds.

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.