XPeng (NYSE:XPEV) Hits New 1-Year High – Here’s Why

XPeng Inc. (NYSE:XPEV) shares reached a new 52-week high on Wednesday . The stock traded as high as $18.26 and last traded at $17.97, with a volume of 2173821 shares traded. The stock had previously closed at $17.48.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on XPEV. UBS Group reissued a “sell” rating and set a $8.80 price target (up from $8.20) on shares of XPeng in a research report on Thursday, December 5th. Citigroup reduced their target price on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Sanford C. Bernstein increased their price target on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Macquarie reiterated a “neutral” rating and set a $18.00 price objective on shares of XPeng in a report on Friday, February 7th. Finally, China Renaissance raised XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price for the company in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, XPeng currently has an average rating of “Moderate Buy” and an average price target of $12.91.

XPeng Stock Performance

The stock has a fifty day moving average of $13.94 and a 200-day moving average of $11.73. The firm has a market capitalization of $17.07 billion, a P/E ratio of -20.83 and a beta of 2.77. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On XPeng

Several hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in shares of XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after purchasing an additional 898 shares in the last quarter. Avior Wealth Management LLC increased its stake in XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after buying an additional 2,564 shares during the last quarter. Lindbrook Capital LLC increased its stake in XPeng by 50.7% in the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock valued at $40,000 after buying an additional 1,138 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in XPeng during the 4th quarter worth about $41,000. Finally, Natixis acquired a new position in shares of XPeng during the 4th quarter worth about $43,000. 21.09% of the stock is owned by 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.