XPeng (NYSE:XPEV) Shares Gap Up – Still a Buy?

XPeng Inc. (NYSE:XPEV) shares gapped up before the market opened on Monday . The stock had previously closed at $11.13, but opened at $11.58. XPeng shares last traded at $11.94, with a volume of 2,995,710 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on XPEV. Citigroup reduced their price objective on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $11.50 in a report on Thursday, September 5th. Bank of America dropped their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Finally, Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $9.42.

XPeng Trading Down 4.3 %

The firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of -9.52 and a beta of 2.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50. The company has a 50 day moving average price of $10.13 and a two-hundred day moving average price of $8.67.

XPeng (NYSE:XPEV) last released its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. The business had revenue of $1.12 billion during the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. On average, research analysts forecast that XPeng Inc. will post -0.96 EPS for the current year.

Institutional Investors Weigh In On XPeng

A number of institutional investors have recently made changes to their positions in the stock. Primecap Management Co. CA boosted its stake in shares of XPeng by 5.6% in the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after purchasing an additional 872,160 shares during the period. Bank of Montreal Can boosted its holdings in XPeng by 212.1% in the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after purchasing an additional 2,724,549 shares during the period. Russell Investments Group Ltd. grew its stake in XPeng by 73.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,415,568 shares of the company’s stock worth $10,872,000 after purchasing an additional 600,437 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in XPeng by 100.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock worth $8,864,000 after purchasing an additional 550,000 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in XPeng by 35.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company’s stock valued at $7,516,000 after purchasing an additional 257,300 shares in the last quarter. 23.05% of the stock is currently owned by institutional investors and hedge funds.

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.