XPeng (NYSE:XPEV) Shares Gap Up – What’s Next?

XPeng Inc. (NYSE:XPEV)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $17.44, but opened at $18.05. XPeng shares last traded at $17.65, with a volume of 2,945,473 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Nomura upgraded XPeng from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $30.00 in a report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price target on XPeng from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, March 19th. Macquarie reissued a “neutral” rating and issued a $18.00 price objective on shares of XPeng in a research note on Friday, February 7th. Citigroup raised XPeng from a “neutral” rating to a “buy” rating and upped their target price for the stock from $13.70 to $29.00 in a research report on Monday, March 10th. Finally, Nomura Securities upgraded XPeng to a “strong-buy” rating in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.20.

XPeng Trading Up 11.5 %

The business has a 50 day simple moving average of $19.96 and a 200 day simple moving average of $15.23. 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 company has a market cap of $18.87 billion, a price-to-earnings ratio of -23.03 and a beta of 2.62.

XPeng (NYSE:XPEV) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.36) by $1.17. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. As a group, equities analysts forecast that XPeng Inc. will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. TMT General Partner Ltd acquired a new position in shares of XPeng in the 4th quarter valued at approximately $205,501,000. Alibaba Group Holding Ltd boosted its holdings in shares of XPeng by 21.2% in the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock valued at $448,678,000 after buying an additional 6,650,000 shares during the period. JPMorgan Chase & Co. increased its position in shares of XPeng by 1,138.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock worth $54,354,000 after acquiring an additional 4,227,055 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of XPeng by 947.5% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock worth $20,800,000 after acquiring an additional 1,591,750 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in XPeng in the 4th quarter valued at $9,398,000. Institutional investors own 21.09% 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.