XPeng (NYSE:XPEV) Stock Price Up 4.4%

XPeng Inc. (NYSE:XPEV) rose 4.4% on Wednesday . The stock traded as high as $7.88 and last traded at $7.84. Approximately 5,398,721 shares traded hands during trading, a decline of 60% from the average daily volume of 13,482,568 shares. The stock had previously closed at $7.51.

Analyst Ratings Changes

XPEV has been the topic of several analyst reports. Daiwa Capital Markets raised XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Thursday, May 23rd. Macquarie assumed coverage on XPeng in a research note on Monday, April 15th. They set a “neutral” rating and a $7.00 target price on the stock. Citigroup raised XPeng from a “sell” rating to a “neutral” rating and upped their target price for the company from $7.70 to $8.30 in a research note on Tuesday, June 25th. Finally, Daiwa America raised XPeng to a “strong-buy” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.10.

XPeng Stock Up 7.7 %

The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $8.04 and a 200-day moving average of $8.96.

XPeng (NYSE:XPEV) last announced its quarterly earnings results on Tuesday, May 21st. The company reported ($0.20) earnings per share (EPS) for the quarter. The firm had revenue of $906.90 million during the quarter. XPeng had a negative net margin of 28.16% and a negative return on equity of 28.16%. Analysts anticipate that XPeng Inc. will post -0.96 EPS for the current year.

Institutional Trading of XPeng

A number of hedge funds have recently bought and sold shares of the stock. Primecap Management Co. CA lifted its holdings in XPeng by 5.3% during the fourth quarter. Primecap Management Co. CA now owns 12,497,823 shares of the company’s stock worth $182,343,000 after buying an additional 624,926 shares during the period. RWC Asset Advisors US LLC increased its position 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 purchasing an additional 2,793,550 shares in the last quarter. Norges Bank acquired a new position in shares of XPeng during the fourth quarter worth $41,993,000. Robeco Schweiz AG increased its position in shares of XPeng by 3.8% during the fourth quarter. Robeco Schweiz AG now owns 2,336,330 shares of the company’s stock worth $34,087,000 after purchasing an additional 85,000 shares in the last quarter. Finally, Electron Capital Partners LLC acquired a new position in shares of XPeng during the fourth quarter worth $26,047,000. Hedge funds and other institutional investors 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.