XPeng (NYSE:XPEV) Shares Gap Up – What’s Next?

XPeng Inc. (NYSE:XPEV) shares gapped up before the market opened on Tuesday . The stock had previously closed at $22.95, but opened at $25.25. XPeng shares last traded at $26.15, with a volume of 6,610,061 shares traded.

Analyst Upgrades and Downgrades

XPEV has been the subject of several recent research reports. Macquarie restated a “neutral” rating and issued a $18.00 price objective on shares of XPeng in a report on Friday, February 7th. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a report on Friday, November 22nd. UBS Group raised shares of 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 research report on Monday, February 24th. Citigroup raised shares of XPeng from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.70 to $29.00 in a research report on Monday. Finally, 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. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, XPeng presently has a consensus rating of “Moderate Buy” and an average price target of $15.63.

XPeng Trading Up 13.9 %

The stock has a 50-day simple moving average of $16.15 and a 200 day simple moving average of $13.08. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The company has a market cap of $24.62 billion, a price-to-earnings ratio of -30.04 and a beta of 2.68.

Hedge Funds Weigh In On XPeng

Several hedge funds and other institutional investors have recently bought and sold shares of XPEV. EverSource Wealth Advisors LLC boosted its holdings in shares of XPeng by 55.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock valued at $30,000 after acquiring an additional 898 shares during the last quarter. Avior Wealth Management LLC lifted its position in XPeng by 1,215.2% during the fourth quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after purchasing an additional 2,564 shares during the period. Lindbrook Capital LLC boosted its holdings in XPeng by 50.7% in the fourth quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock valued at $40,000 after purchasing an additional 1,138 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in XPeng during the 4th quarter worth about $41,000. Finally, Natixis acquired a new position in shares of XPeng in the 4th quarter valued at about $43,000. 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.