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

XPeng Inc. (NYSE:XPEV)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $11.81, but opened at $12.88. XPeng shares last traded at $13.00, with a volume of 2,916,721 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein upped their price target on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. UBS Group restated a “sell” rating and issued a $8.80 price objective (up previously from $8.20) on shares of XPeng in a report on Thursday, December 5th. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price for the company in a report on Friday, November 22nd. Citigroup cut their price target on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group cut XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective for the company. in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, XPeng presently has a consensus rating of “Moderate Buy” and an average price target of $11.69.

XPeng Stock Up 7.4 %

The company has a market cap of $11.94 billion, a PE ratio of -14.57 and a beta of 2.74. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The company’s fifty day moving average is $12.61 and its 200-day moving average is $10.41.

Hedge Funds Weigh In On XPeng

Several institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in XPeng in the third quarter worth approximately $45,000. Venturi Wealth Management LLC purchased a new position in XPeng during the third quarter valued at $110,000. Susquehanna International Securities Ltd. purchased a new stake in XPeng in the second quarter worth about $129,000. Atomi Financial Group Inc. bought a new position in shares of XPeng in the third quarter worth about $129,000. Finally, Sequoia Financial Advisors LLC lifted its position in shares of XPeng by 24.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company’s stock valued at $163,000 after buying an additional 2,609 shares in 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.