XPeng (NYSE:XPEV) Hits New 12-Month High – Here’s Why

XPeng Inc. (NYSE:XPEV) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $15.89 and last traded at $15.70, with a volume of 5589820 shares trading hands. The stock had previously closed at $14.81.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on XPEV shares. UBS Group reaffirmed a “sell” rating and set a $8.80 price target (up from $8.20) on shares of XPeng in a research note on Thursday, December 5th. Citigroup decreased their target price on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research 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. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective for the company in a report on Friday, November 22nd. Finally, The Goldman Sachs Group lowered XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.69.

XPeng Trading Down 2.6 %

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 capitalization of $14.29 billion, a price-to-earnings ratio of -17.43 and a beta of 2.74. The business has a fifty day moving average price of $12.97 and a 200 day moving average price of $11.00.

Institutional Investors Weigh In On XPeng

Institutional investors have recently added to or reduced their stakes in the company. Greenleaf Trust raised its position in XPeng by 16.2% in the third quarter. Greenleaf Trust now owns 16,068 shares of the company’s stock worth $196,000 after purchasing an additional 2,243 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock worth $33,000 after buying an additional 2,564 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of XPeng by 24.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company’s stock worth $163,000 after buying an additional 2,609 shares during the period. Golden State Wealth Management LLC acquired a new stake in XPeng in the 4th quarter valued at $41,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in XPeng during the third quarter worth $45,000. 21.09% of the stock is owned by institutional investors and hedge funds.

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.