XPeng (NYSE:XPEV) Shares Up 4.4% – Still a Buy?

XPeng Inc. (NYSE:XPEV) traded up 4.4% during trading on Tuesday . The stock traded as high as $12.98 and last traded at $12.94. 3,054,200 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 13,518,657 shares. The stock had previously closed at $12.39.

Wall Street Analyst Weigh In

A number of research firms have recently commented on XPEV. Citigroup dropped their price target on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Sanford C. Bernstein lifted their price target on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating 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 target price for the company. in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.69.

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 firm’s fifty day simple moving average is $12.27 and its 200 day simple moving average is $9.82. The firm has a market cap of $11.76 billion, a P/E ratio of -14.34 and a beta of 2.76.

Hedge Funds Weigh In On XPeng

Large investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake 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 worth $75,000 after purchasing an additional 9,391 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of XPeng by 119.6% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 111,364 shares of the company’s stock valued at $816,000 after buying an additional 60,643 shares during the period. Signaturefd LLC grew its stake in shares of XPeng by 19.4% during the second quarter. Signaturefd LLC now owns 24,647 shares of the company’s stock valued at $181,000 after buying an additional 4,002 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of XPeng during the second quarter valued at approximately $1,006,000. Finally, Primecap Management Co. CA lifted its stake in shares of XPeng by 5.6% during the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock worth $120,369,000 after acquiring an additional 872,160 shares during the last quarter. 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.