XPeng (NYSE:XPEV) Shares Gap Up to $7.81

Shares of XPeng Inc. (NYSE:XPEV) gapped up prior to trading on Thursday . The stock had previously closed at $7.81, but opened at $8.08. XPeng shares last traded at $8.06, with a volume of 5,047,087 shares trading hands.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reduced their price target on shares of XPeng from $19.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, February 23rd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.64.

XPeng Price Performance

The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average of $9.11 and a two-hundred day moving average of $13.38.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its stake in XPeng by 8,035.6% in the third quarter. FMR LLC now owns 5,311,499 shares of the company’s stock valued at $97,519,000 after buying an additional 5,246,212 shares during the last quarter. Norges Bank acquired a new position in shares of XPeng in the 4th quarter valued at $41,993,000. RWC Asset Advisors US LLC boosted its position in XPeng by 170.3% during the 4th quarter. RWC Asset Advisors US LLC now owns 4,434,392 shares of the company’s stock worth $64,698,000 after acquiring an additional 2,793,550 shares during the period. UBS Group AG boosted its position in XPeng by 1,500.6% during the 3rd quarter. UBS Group AG now owns 2,442,935 shares of the company’s stock worth $44,852,000 after acquiring an additional 2,290,309 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in shares of XPeng during the 1st quarter valued at about $21,058,000. 23.05% of the stock is currently owned by hedge funds and other institutional investors.

About XPeng

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EV) 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, maintenance, super charging, technical support, auto financing, insurance technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.