XPeng (NYSE:XPEV) Shares Gap Up to $9.56

XPeng Inc. (NYSE:XPEV)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $9.56, but opened at $10.34. XPeng shares last traded at $10.03, with a volume of 3,133,824 shares traded.

Wall Street Analyst Weigh In

XPEV has been the subject of several analyst reports. Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Bank of America cut their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Citigroup lowered their price target on XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $9.42.

XPeng Stock Up 9.0 %

The firm has a market capitalization of $9.82 billion, a PE ratio of -6.82 and a beta of 2.75. The company’s fifty day simple moving average is $8.01 and its 200 day simple moving average is $8.09. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in XPEV. Norges Bank purchased a new stake in XPeng in the fourth quarter worth about $41,993,000. Capstone Investment Advisors LLC bought a new position in shares of XPeng in the fourth quarter worth about $360,000. Ghisallo Capital Management LLC purchased a new stake in XPeng during the 4th quarter valued at approximately $9,537,000. Robeco Schweiz AG lifted its holdings in shares of XPeng by 3.8% in the fourth quarter. Robeco Schweiz AG now owns 2,336,330 shares of the company’s stock worth $34,087,000 after buying an additional 85,000 shares in the last quarter. Finally, Caas Capital Management LP bought a new position in shares of XPeng during the fourth quarter worth $153,000. 23.05% 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.