XPeng (NYSE:XPEV) Trading 6.7% Higher – Here’s What Happened

Shares of XPeng Inc. (NYSE:XPEV) shot up 6.7% on Thursday . The company traded as high as $13.98 and last traded at $13.93. 2,509,734 shares were traded during mid-day 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 Analyst Weigh In

A number of research firms have weighed in on XPEV. Sanford C. Bernstein increased their target price on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. UBS Group reissued a “sell” rating and issued a $8.80 target price (up previously from $8.20) on shares of XPeng in a report on Thursday, December 5th. China Renaissance raised XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price on the stock in a report on Friday, November 22nd. The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a report on Thursday, November 21st. Finally, Citigroup decreased their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, XPeng has an average rating of “Moderate Buy” and an average target price of $11.69.

XPeng Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The firm has a 50-day moving average of $12.62 and a 200-day moving average of $10.47. The stock has a market cap of $13.07 billion, a PE ratio of -15.97 and a beta of 2.74.

Institutional Trading of XPeng

Several institutional investors have recently made changes to their positions in XPEV. Renaissance Technologies LLC purchased a new stake in shares of XPeng during the second quarter worth about $1,006,000. Primecap Management Co. CA grew its position in shares of XPeng by 5.6% during the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock worth $120,369,000 after purchasing an additional 872,160 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of XPeng during the second quarter worth about $2,199,000. Sei Investments Co. grew its position in shares of XPeng by 15.7% during the second quarter. Sei Investments Co. now owns 149,710 shares of the company’s stock worth $1,097,000 after purchasing an additional 20,310 shares in the last quarter. Finally, DRW Securities LLC grew its position in shares of XPeng by 135.1% during the second quarter. DRW Securities LLC now owns 82,524 shares of the company’s stock worth $604,000 after purchasing an additional 47,423 shares in the last quarter. Hedge funds and other institutional investors own 21.09% of the company’s stock.

XPeng Company Profile

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.