XPeng (NYSE:XPEV) Shares Gap Up – Here’s What Happened

XPeng Inc. (NYSE:XPEV)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $19.13, but opened at $20.74. XPeng shares last traded at $21.42, with a volume of 7,784,874 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on XPEV. Citigroup decreased their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. The Goldman Sachs Group downgraded shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective for the company. in a report on Thursday, November 21st. UBS Group raised XPeng from a “sell” rating to a “neutral” rating and increased their target price for the company from $8.80 to $18.00 in a research note on Monday. China Renaissance raised XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target for the company in a research note on Friday, November 22nd. Finally, Macquarie reiterated a “neutral” rating and set a $18.00 price objective on shares of XPeng in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.93.

XPeng Stock Performance

The company has a market cap of $20.63 billion, a P/E ratio of -25.21 and a beta of 2.77. The business has a fifty day moving average of $14.51 and a 200 day moving average of $12.13. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

Institutional Investors Weigh In On XPeng

A number of large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in XPeng by 14.2% in the fourth quarter. Van ECK Associates Corp now owns 253,875 shares of the company’s stock worth $3,001,000 after buying an additional 31,538 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in XPeng in the 3rd quarter worth $6,233,000. FMR LLC increased its stake in 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 buying an additional 295,536 shares in the last quarter. Savant Capital LLC bought a new stake in XPeng during the fourth quarter valued at about $229,000. Finally, TMT General Partner Ltd purchased a new position in shares of XPeng in the fourth quarter valued at about $205,501,000. 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.