XPeng (NYSE:XPEV) Stock Price Up 5% – Time to Buy?

XPeng Inc. (NYSE:XPEV)’s stock price rose 5% on Thursday . The company traded as high as $22.50 and last traded at $22.74. Approximately 3,985,205 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 13,073,328 shares. The stock had previously closed at $21.66.

Analysts Set New Price Targets

XPEV has been the topic of a number of recent analyst reports. Citigroup lowered their price target on shares of 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 raised their price target on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Macquarie restated a “neutral” rating and issued a $18.00 price target on shares of XPeng in a report on Friday, February 7th. China Renaissance upgraded shares of 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. Finally, UBS Group upgraded shares of XPeng from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $8.80 to $18.00 in a research note on Monday, February 24th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.93.

XPeng Stock Up 5.8 %

The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $22.16 billion, a PE ratio of -27.04 and a beta of 2.68. The business’s 50-day simple moving average is $15.93 and its 200-day simple moving average is $12.88.

Hedge Funds Weigh In On XPeng

Several institutional investors have recently made changes to their positions in XPEV. EverSource Wealth Advisors LLC increased its holdings in shares of XPeng by 55.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock valued at $30,000 after purchasing an additional 898 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of XPeng by 1,215.2% during the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after purchasing an additional 2,564 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of XPeng by 50.7% during the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock valued at $40,000 after purchasing an additional 1,138 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of XPeng during the 4th quarter valued at approximately $41,000. Finally, Natixis purchased a new position in shares of XPeng during the 4th quarter valued at approximately $43,000. 21.09% 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.