XPeng (NYSE:XPEV) Hits New 52-Week High – Still a Buy?

XPeng Inc. (NYSE:XPEV)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $17.30 and last traded at $16.99, with a volume of 15913955 shares. The stock had previously closed at $15.69.

Analyst Upgrades and Downgrades

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

XPeng Stock Up 3.1 %

The company has a 50 day moving average of $13.26 and a 200 day moving average of $11.18. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22.

Institutional Investors Weigh In On XPeng

A number of hedge funds and other institutional investors have recently modified their holdings of XPEV. TMT General Partner Ltd acquired a new stake in shares of XPeng during the 4th quarter worth about $205,501,000. Point72 Hong Kong Ltd purchased a new stake in XPeng in the 3rd quarter valued at $22,047,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of XPeng during the third quarter worth about $6,233,000. FMR LLC lifted its position in XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after acquiring an additional 295,536 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd lifted its holdings in shares of XPeng by 36.0% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock worth $4,969,000 after purchasing an additional 108,000 shares during the period. 21.09% of the stock is currently 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.