XPeng (NYSE:XPEV) Shares Gap Up – Should You Buy?

Shares of XPeng Inc. (NYSE:XPEV) gapped up before the market opened on Wednesday . The stock had previously closed at $20.22, but opened at $21.45. XPeng shares last traded at $21.34, with a volume of 2,009,086 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on XPEV. The Goldman Sachs Group lowered shares of 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. Citigroup reduced their price target 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. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective for the company in a research report on Friday, November 22nd. Sanford C. Bernstein lifted their target price on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Finally, UBS Group raised shares of XPeng from a “sell” rating to a “neutral” rating and upped their price target for the stock from $8.80 to $18.00 in a research report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.93.

XPeng Price Performance

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 business’s fifty day simple moving average is $15.36 and its 200 day simple moving average is $12.64. The stock has a market cap of $20.15 billion, a price-to-earnings ratio of -24.61 and a beta of 2.77.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its holdings in XPeng by 5.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,044 shares of the company’s stock worth $154,000 after purchasing an additional 716 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after buying an additional 898 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in XPeng by 3.9% in the fourth quarter. Quadrant Capital Group LLC now owns 24,192 shares of the company’s stock valued at $286,000 after acquiring an additional 913 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in XPeng by 7.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 14,386 shares of the company’s stock valued at $170,000 after acquiring an additional 1,027 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in XPeng by 50.7% during the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock valued at $40,000 after acquiring an additional 1,138 shares during the last quarter. Institutional investors and hedge funds 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.