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

XPeng Inc. (NYSE:XPEV) shares gapped up prior to trading on Wednesday . The stock had previously closed at $20.22, but opened at $21.45. XPeng shares last traded at $21.34, with a volume of 2,009,086 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on XPEV. The Goldman Sachs Group lowered XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective on the stock. in a report on Thursday, November 21st. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target on the stock in a research note on Friday, November 22nd. Sanford C. Bernstein increased their price target on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Macquarie reissued a “neutral” rating and set a $18.00 price objective on shares of XPeng in a report on Friday, February 7th. Finally, UBS Group raised shares of XPeng from a “sell” rating to a “neutral” rating and increased their target price for the company from $8.80 to $18.00 in a report on Monday, February 24th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.93.

XPeng Stock Up 5.8 %

The firm’s fifty day simple moving average is $15.36 and its 200-day simple moving average is $12.64. The company has a market cap of $20.15 billion, a PE ratio of -24.61 and a beta of 2.77. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

Institutional Investors Weigh In On XPeng

A number of large investors have recently bought and sold shares of the stock. Creative Planning lifted its position in shares of XPeng by 20.3% in the third quarter. Creative Planning now owns 39,725 shares of the company’s stock valued at $484,000 after acquiring an additional 6,704 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in XPeng in the 3rd quarter valued at about $45,000. US Bancorp DE boosted its position in XPeng by 6.3% during the third quarter. US Bancorp DE now owns 73,957 shares of the company’s stock worth $901,000 after acquiring an additional 4,412 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of XPeng by 4.8% during the third quarter. Van ECK Associates Corp now owns 222,337 shares of the company’s stock worth $2,481,000 after purchasing an additional 10,148 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in XPeng in the 3rd quarter worth about $110,000. 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.