Short Interest in XPeng Inc. (NYSE:XPEV) Increases By 16.0%

XPeng Inc. (NYSE:XPEV) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 49,880,000 shares, a growth of 16.0% from the November 15th total of 43,010,000 shares. Based on an average daily trading volume, of 15,400,000 shares, the short-interest ratio is presently 3.2 days.

XPeng Stock Performance

NYSE XPEV traded up $0.55 on Tuesday, hitting $12.94. 3,054,200 shares of the company’s stock traded hands, compared to its average volume of 13,518,657. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. XPeng has a 1-year low of $6.55 and a 1-year high of $15.68. The firm’s 50-day moving average price is $12.25 and its two-hundred day moving average price is $9.77. The firm has a market capitalization of $12.19 billion, a PE ratio of -14.24 and a beta of 2.76.

Hedge Funds Weigh In On XPeng

Institutional investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of XPeng during the 3rd quarter valued at approximately $6,233,000. FMR LLC increased its holdings in shares of XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock valued at $3,941,000 after purchasing an additional 295,536 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of XPeng during the 2nd quarter valued at approximately $1,006,000. Point72 Hong Kong Ltd purchased a new position in shares of XPeng during the 3rd quarter valued at approximately $22,047,000. Finally, Central Asset Investments & Management Holdings HK Ltd raised its position in 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 acquiring an additional 108,000 shares during the period. 21.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

XPEV has been the topic of a number of research reports. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price on the stock in a research report on Friday, November 22nd. Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and raised their target price for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. UBS Group reissued a “sell” rating and set a $8.80 target price (up previously from $8.20) on shares of XPeng in a research report on Thursday, December 5th. Finally, Bank of America cut their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, XPeng currently has an average rating of “Moderate Buy” and an average price target of $11.69.

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.