XPeng (NYSE:XPEV) Trading 6.7% Higher – Still a Buy?

Shares of XPeng Inc. (NYSE:XPEV) shot up 6.7% on Thursday . The stock traded as high as $13.98 and last traded at $13.93. 2,509,734 shares were traded during trading, a decline of 75% from the average session volume of 10,032,017 shares. The stock had previously closed at $13.05.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on XPEV. China Renaissance raised 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 dropped their target price on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. UBS Group restated a “sell” rating and issued a $8.80 target price (up previously from $8.20) on shares of XPeng in a research report on Thursday, December 5th. Sanford C. Bernstein boosted their price objective on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Finally, The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective for the company. in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.69.

XPeng Stock Performance

The company has a market capitalization of $13.07 billion, a PE ratio of -15.97 and a beta of 2.74. The company has a 50 day moving average of $12.62 and a two-hundred day moving average of $10.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

Institutional Investors Weigh In On XPeng

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of XPeng in the third quarter worth $45,000. Venturi Wealth Management LLC purchased a new stake in shares of XPeng in the third quarter worth $110,000. Atomi Financial Group Inc. purchased a new stake in shares of XPeng in the third quarter worth $129,000. Sequoia Financial Advisors LLC lifted its holdings in shares of XPeng by 24.3% during 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 in the last quarter. Finally, Azzad Asset Management Inc. ADV bought a new position in shares of XPeng during the third quarter valued at $172,000. 21.09% of the stock is owned by hedge funds and other institutional investors.

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.