XPeng (NYSE:XPEV) Trading 5.4% Higher – Should You Buy?

XPeng Inc. (NYSE:XPEV)’s share price traded up 5.4% during mid-day trading on Wednesday . The company traded as high as $12.79 and last traded at $12.78. 8,350,914 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 13,415,304 shares. The stock had previously closed at $12.13.

Analyst Upgrades and Downgrades

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

XPeng Stock Performance

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 firm has a fifty day simple moving average of $8.84 and a 200 day simple moving average of $8.29. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of -8.19 and a beta of 2.79.

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

Hedge Funds Weigh In On XPeng

A number of institutional investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. lifted its position in 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 buying an additional 2,920 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in XPeng in the fourth quarter valued at $52,000. Signaturefd LLC raised its position in XPeng by 19.4% in the second quarter. Signaturefd LLC now owns 24,647 shares of the company’s stock valued at $181,000 after purchasing an additional 4,002 shares during the period. Natixis purchased a new stake in XPeng in the first quarter valued at $38,000. Finally, Ballentine Partners LLC raised its position in XPeng by 47.0% in the first quarter. Ballentine Partners LLC now owns 19,933 shares of the company’s stock valued at $153,000 after purchasing an additional 6,376 shares during the period. Hedge funds and other 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.