XPeng Sees Unusually High Options Volume (NYSE:XPEV)

XPeng Inc. (NYSE:XPEV) was the target of some unusual options trading activity on Thursday. Stock traders purchased 50,052 put options on the stock. This represents an increase of approximately 43% compared to the average volume of 34,992 put options.

XPeng Stock Performance

NYSE XPEV traded down $0.54 during trading hours on Thursday, reaching $20.18. 7,602,259 shares of the company were exchanged, compared to its average volume of 13,156,486. XPeng has a 1 year low of $6.55 and a 1 year high of $27.16. The business’s 50 day simple moving average is $18.81 and its 200-day simple moving average is $14.32. The stock has a market capitalization of $19.01 billion, a P/E ratio of -23.17 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.

XPeng (NYSE:XPEV) last posted its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($1.36) by $1.17. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $16.11 billion. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. On average, equities research analysts expect that XPeng will post -0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. UBS Group upgraded XPeng from a “sell” rating to a “neutral” rating and increased their price target for the stock from $8.80 to $18.00 in a report on Monday, February 24th. Macquarie restated a “neutral” rating and issued a $18.00 price target on shares of XPeng in a report on Friday, February 7th. Nomura Securities upgraded XPeng to a “strong-buy” rating in a report on Tuesday, March 18th. JPMorgan Chase & Co. cut their target price on XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, March 19th. Finally, Bank of America boosted their price target on shares of XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, XPeng has an average rating of “Hold” and a consensus price target of $22.20.

Hedge Funds Weigh In On XPeng

Several hedge funds have recently bought and sold shares of the company. TMT General Partner Ltd bought a new position in shares of XPeng in the 4th quarter worth $205,501,000. Alibaba Group Holding Ltd raised its holdings in XPeng by 21.2% during the 4th quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock valued at $448,678,000 after buying an additional 6,650,000 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings 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 purchasing an additional 4,227,055 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of XPeng in the 3rd quarter worth approximately $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in XPeng by 947.5% in 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 valued at $20,800,000 after acquiring an additional 1,591,750 shares in the last quarter. Hedge funds and other 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.