XPeng (NYSE:XPEV) Shares Gap Up to $8.92

XPeng Inc. (NYSE:XPEV)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $8.92, but opened at $9.16. XPeng shares last traded at $9.42, with a volume of 1,881,940 shares traded.

Analyst Ratings Changes

A number of equities research analysts have weighed in on XPEV shares. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $11.50 in a research note on Thursday, September 5th. Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Daiwa Capital Markets raised shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Thursday, May 23rd. Citigroup reduced their price objective on shares of XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. Finally, Daiwa America raised shares of XPeng to a “strong-buy” rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, XPeng currently has an average rating of “Buy” and an average target price of $12.08.

XPeng Trading Down 4.4 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31. The business’s fifty day simple moving average is $7.96 and its 200 day simple moving average is $8.09. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of -5.84 and a beta of 2.75.

XPeng (NYSE:XPEV) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. The business had revenue of $1.12 billion during the quarter. On average, research analysts predict that XPeng Inc. will post -0.95 EPS for the current year.

Hedge Funds Weigh In On XPeng

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Natixis bought a new position in XPeng during the 1st quarter worth $38,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of XPeng by 122.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock worth $39,000 after acquiring an additional 2,920 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in shares of XPeng in the 4th quarter worth about $52,000. Blue Trust Inc. lifted its position in XPeng by 2,615.9% in the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after purchasing an additional 9,391 shares during the last quarter. Finally, 180 Wealth Advisors LLC acquired a new position in XPeng during the 2nd quarter valued at about $78,000. 23.05% of the stock is currently owned by institutional investors and hedge funds.

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.