XPeng (NYSE:XPEV) Stock Price Up 8.8% – Here’s What Happened

XPeng Inc. (NYSE:XPEV)’s share price traded up 8.8% on Monday . The company traded as high as $13.16 and last traded at $13.11. 4,605,964 shares were traded during mid-day trading, a decline of 66% from the average session volume of 13,625,136 shares. The stock had previously closed at $12.05.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a research note on Thursday, November 21st. Macquarie upgraded XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Citigroup cut their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Finally, Sanford C. Bernstein boosted their target price on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.05.

XPeng Stock Performance

The stock has a market capitalization of $11.95 billion, a P/E ratio of -14.95 and a beta of 2.76. The stock’s 50-day simple moving average is $12.07 and its 200 day simple moving average is $9.43. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

Hedge Funds Weigh In On XPeng

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in XPeng by 212.1% in the 2nd 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. Point72 Hong Kong Ltd acquired a new stake in shares of XPeng during the third quarter worth $22,047,000. Primecap Management Co. CA boosted its position 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 acquiring an additional 872,160 shares during the period. Point72 Europe London LLP acquired a new position in shares of XPeng in the second quarter valued at about $5,923,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in XPeng by 100.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after purchasing an additional 550,000 shares during the period. Institutional investors and hedge funds own 23.05% of the company’s stock.

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.