XPeng (NYSE:XPEV) Shares Gap Up – Here’s What Happened

Shares of XPeng Inc. (NYSE:XPEV) gapped up before the market opened on Monday . The stock had previously closed at $11.52, but opened at $12.18. XPeng shares last traded at $12.25, with a volume of 4,054,916 shares.

Analyst Upgrades and Downgrades

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

XPeng Stock Up 6.0 %

The firm has a market capitalization of $12.06 billion, a PE ratio of -10.49 and a beta of 2.80. The firm’s 50-day moving average is $10.48 and its 200 day moving average is $8.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50.

XPeng (NYSE:XPEV) last announced its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The business had revenue of $1.12 billion for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. As a group, research analysts forecast that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On XPeng

Large investors have recently bought and sold shares of the stock. Sei Investments Co. lifted its position in shares of XPeng by 83.0% in the first quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock valued at $994,000 after acquiring an additional 58,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in XPeng by 35.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company’s stock valued at $7,516,000 after purchasing an additional 257,300 shares in the last quarter. Natixis acquired a new stake in shares of XPeng during the 1st quarter worth about $38,000. Renaissance Technologies LLC purchased a new stake in shares of XPeng during the second quarter worth about $1,006,000. Finally, Seven Eight Capital LP raised its position in shares of XPeng by 2,254.4% in the first quarter. Seven Eight Capital LP now owns 284,155 shares of the company’s stock valued at $2,182,000 after buying an additional 272,086 shares during the last quarter. Institutional investors and hedge funds own 23.05% 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.