XPeng (NYSE:XPEV) Shares Up 4.9% – Here’s Why

XPeng Inc. (NYSE:XPEV)’s stock price rose 4.9% during trading on Tuesday . The company traded as high as $11.38 and last traded at $11.35. Approximately 4,252,691 shares changed hands during trading, a decline of 68% from the average daily volume of 13,461,522 shares. The stock had previously closed at $10.82.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on XPEV shares. JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Bank of America reduced their price objective on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Macquarie upgraded XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Finally, Citigroup decreased their price target on XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $9.42.

XPeng Stock Up 1.9 %

The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The firm has a market cap of $10.39 billion, a P/E ratio of -7.59 and a beta of 2.79. The business has a fifty day moving average of $9.60 and a 200 day moving average of $8.52.

XPeng (NYSE:XPEV) last issued its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The firm had revenue of $1.12 billion for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. On average, equities research analysts predict that XPeng Inc. will post -0.96 EPS for the current year.

Hedge Funds Weigh In On XPeng

Institutional investors have recently modified their holdings of the business. Greenleaf Trust grew its holdings in shares of XPeng by 16.2% during the third quarter. Greenleaf Trust now owns 16,068 shares of the company’s stock worth $196,000 after buying an additional 2,243 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of XPeng by 24.3% in the third quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company’s stock valued at $163,000 after purchasing an additional 2,609 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of XPeng in the third quarter worth $45,000. 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 worth $484,000 after purchasing an additional 6,704 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new position in XPeng during the third quarter worth $129,000. Institutional investors own 23.05% 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.