XPeng (NYSE:XPEV) Hits New 52-Week High – Should You Buy?

XPeng Inc. (NYSE:XPEV)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $22.92 and last traded at $22.25, with a volume of 14957124 shares changing hands. The stock had previously closed at $21.66.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group raised XPeng from a “sell” rating to a “neutral” rating and increased their price target for the company from $8.80 to $18.00 in a report on Monday, February 24th. China Renaissance raised XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target for the company in a report on Friday, November 22nd. Macquarie reaffirmed a “neutral” rating and issued a $18.00 price target on shares of XPeng in a report on Friday, February 7th. Sanford C. Bernstein increased their price target 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 cut XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a report on Thursday, November 21st. Five equities research analysts have rated the stock with a hold rating, four 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.93.

XPeng Stock Up 2.7 %

The company has a market capitalization of $20.96 billion, a PE ratio of -25.58 and a beta of 2.68. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $15.72 and a two-hundred day moving average of $12.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Alibaba Group Holding Ltd boosted its position in shares of XPeng by 21.2% during the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock worth $448,678,000 after buying an additional 6,650,000 shares during the period. TMT General Partner Ltd purchased a new position in shares of XPeng during the fourth quarter worth $205,501,000. JPMorgan Chase & Co. boosted its position in shares of XPeng by 1,138.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock worth $54,354,000 after buying an additional 4,227,055 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of XPeng during the third quarter worth $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of XPeng by 947.5% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock worth $20,800,000 after buying an additional 1,591,750 shares during the period. 21.09% of the stock is currently owned by hedge funds and other institutional investors.

XPeng Company Profile

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.