XPeng (NYSE:XPEV) Shares Gap Up to $6.94

Shares of XPeng Inc. (NYSE:XPEV) gapped up prior to trading on Monday . The stock had previously closed at $6.94, but opened at $7.17. XPeng shares last traded at $7.09, with a volume of 1,368,167 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Bank of America lowered their price target on XPeng from $12.70 to $11.70 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Citigroup raised XPeng from a “sell” rating to a “neutral” rating and increased their price target for the company from $7.70 to $8.30 in a report on Tuesday, June 25th. Daiwa Capital Markets raised XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Thursday, May 23rd. Finally, Daiwa America raised XPeng to a “strong-buy” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, XPeng has an average rating of “Moderate Buy” and an average price target of $11.49.

XPeng Price Performance

The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $6.78 billion, a PE ratio of -4.69 and a beta of 2.76. The firm has a 50 day moving average price of $7.76 and a 200 day moving average price of $8.21.

XPeng (NYSE:XPEV) last issued its quarterly earnings results on Tuesday, May 21st. The company reported ($0.20) earnings per share (EPS) for the quarter. XPeng had a negative return on equity of 28.16% and a negative net margin of 28.16%. The business had revenue of $906.90 million during the quarter. Research analysts anticipate that XPeng Inc. will post -0.91 earnings per share for the current year.

Institutional Investors Weigh In On XPeng

A number of institutional investors have recently bought and sold shares of XPEV. Natixis purchased a new stake in XPeng in the 1st quarter worth $38,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of XPeng by 122.4% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after purchasing an additional 2,920 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of XPeng during the 4th quarter valued at about $52,000. Blue Trust Inc. boosted its holdings in shares of XPeng by 2,615.9% during the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after purchasing an additional 9,391 shares during the last quarter. Finally, 180 Wealth Advisors LLC bought a new position in shares of XPeng during the 2nd quarter valued at about $78,000. 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.