XPeng (NYSE:XPEV) Shares Gap Up to $7.08

XPeng Inc. (NYSE:XPEV) shares gapped up prior to trading on Friday . The stock had previously closed at $7.08, but opened at $7.69. XPeng shares last traded at $7.82, with a volume of 6,863,925 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on XPEV shares. JPMorgan Chase & Co. dropped their price objective on shares of XPeng from $19.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd. Macquarie started coverage on XPeng in a report on Monday, April 15th. They issued a “neutral” rating and a $7.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.48.

XPeng Trading Up 10.9 %

The firm has a 50 day simple moving average of $8.52 and a two-hundred day simple moving average of $11.94. The firm has a market capitalization of $7.39 billion, a P/E ratio of -4.64 and a beta of 2.93. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 1.51.

XPeng (NYSE:XPEV) last released its earnings results on Tuesday, March 19th. The company reported ($0.21) earnings per share (EPS) for the quarter. XPeng had a negative net margin of 33.77% and a negative return on equity of 31.17%. The business had revenue of $1.84 billion during the quarter. Equities research analysts forecast that XPeng Inc. will post -1.25 earnings per share for the current year.

Hedge Funds Weigh In On XPeng

A number of hedge funds and other institutional investors have recently made changes to their positions in XPEV. Compagnie Lombard Odier SCmA raised its position in XPeng by 322.2% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,900 shares of the company’s stock worth $28,000 after acquiring an additional 1,450 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of XPeng during the 4th quarter worth approximately $52,000. Lindbrook Capital LLC raised its holdings in shares of XPeng by 33.0% in the 3rd quarter. Lindbrook Capital LLC now owns 3,149 shares of the company’s stock worth $58,000 after purchasing an additional 781 shares during the period. Rakuten Securities Inc. purchased a new position in XPeng in the fourth quarter valued at approximately $59,000. Finally, Headlands Technologies LLC bought a new position in XPeng during the third quarter valued at $65,000. 23.05% of the stock is 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.