XPeng Sees Unusually Large Options Volume (NYSE:XPEV)

XPeng Inc. (NYSE:XPEV) was the recipient of some unusual options trading activity on Thursday. Stock traders purchased 42,250 call options on the company. This is an increase of approximately 32% compared to the typical daily volume of 32,039 call options.

XPeng Trading Up 6.3 %

Shares of XPEV stock traded up $0.82 during mid-day trading on Thursday, reaching $13.87. The company’s stock had a trading volume of 9,857,581 shares, compared to its average volume of 10,778,893. The company’s 50 day simple moving average is $12.62 and its 200-day simple moving average is $10.47. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. XPeng has a 12-month low of $6.55 and a 12-month high of $15.68. The firm has a market capitalization of $13.07 billion, a PE ratio of -15.90 and a beta of 2.74.

Institutional Investors Weigh In On XPeng

Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in shares of XPeng during the second quarter worth about $1,006,000. Primecap Management Co. CA raised its holdings in 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 acquired a new position in XPeng during the second quarter worth about $2,199,000. Sei Investments Co. raised 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 during the period. Finally, DRW Securities LLC grew its position in XPeng by 135.1% during the 2nd 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.

Analyst Upgrades and Downgrades

XPEV has been the topic of a number of research reports. China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a report on Friday, November 22nd. Citigroup reduced their target price 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. The Goldman Sachs Group downgraded shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective for the company. in a research note on Thursday, November 21st. Sanford C. Bernstein upped their price target on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Finally, UBS Group reiterated a “sell” rating and issued a $8.80 price target (up previously from $8.20) on shares of XPeng in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.69.

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.