XPeng (NYSE:XPEV) Shares Gap Up – Time to Buy?

Shares of XPeng Inc. (NYSE:XPEV) gapped up before the market opened on Wednesday . The stock had previously closed at $11.39, but opened at $11.90. XPeng shares last traded at $11.93, with a volume of 2,172,446 shares traded.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America cut their price target on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Sanford C. Bernstein increased their target price on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Citigroup dropped their price target on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Finally, Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.05.

XPeng Trading Up 6.0 %

The firm has a 50-day moving average of $11.91 and a 200 day moving average of $9.35. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Tidal Investments LLC increased its stake in XPeng by 25.2% during the 1st quarter. Tidal Investments LLC now owns 93,420 shares of the company’s stock worth $717,000 after buying an additional 18,826 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of XPeng by 100.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after acquiring an additional 550,000 shares in the last quarter. 180 Wealth Advisors LLC purchased a new stake in shares of XPeng during the second quarter worth about $78,000. Blue Trust Inc. lifted its stake in shares of XPeng by 2,615.9% in the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock worth $75,000 after acquiring an additional 9,391 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in XPeng by 122.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after purchasing an additional 2,920 shares during the last quarter. 23.05% of the stock is owned by institutional investors and hedge funds.

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.