XPeng (NYSE:XPEV) Stock Price Up 4.8%

XPeng Inc. (NYSE:XPEV)’s stock price shot up 4.8% during mid-day trading on Monday . The stock traded as high as $7.72 and last traded at $7.68. Approximately 6,037,010 shares were traded during mid-day trading, a decline of 55% from the average session volume of 13,470,348 shares. The stock had previously closed at $7.33.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup raised XPeng from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $7.70 to $8.30 in a report on Tuesday, June 25th. Macquarie assumed coverage on shares of XPeng in a research note on Monday, April 15th. They issued a “neutral” rating and a $7.00 price target on the stock. Daiwa Capital Markets raised shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Thursday, May 23rd. Finally, Daiwa America raised XPeng to a “strong-buy” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.28.

XPeng Trading Up 9.0 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.32 and a current ratio of 1.50. The firm has a market capitalization of $7.84 billion, a P/E ratio of -5.62 and a beta of 2.76. The firm has a 50 day simple moving average of $8.03 and a two-hundred day simple moving average of $9.19.

XPeng (NYSE:XPEV) last released its quarterly earnings results on Tuesday, May 21st. The company reported ($0.20) earnings per share for the quarter. XPeng had a negative net margin of 28.16% and a negative return on equity of 28.16%. The firm had revenue of $906.90 million for the quarter. Equities research analysts forecast that XPeng Inc. will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On XPeng

Large investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of XPeng during the 4th quarter worth $41,993,000. RWC Asset Advisors US LLC increased its stake in shares of XPeng by 170.3% in the fourth quarter. RWC Asset Advisors US LLC now owns 4,434,392 shares of the company’s stock worth $64,698,000 after purchasing an additional 2,793,550 shares in the last quarter. Electron Capital Partners LLC bought a new stake in shares of XPeng in the fourth quarter valued at approximately $26,047,000. Russell Investments Group Ltd. lifted its stake in shares of XPeng by 9,123.0% during the 4th quarter. Russell Investments Group Ltd. now owns 815,131 shares of the company’s stock valued at $11,893,000 after buying an additional 806,293 shares in the last quarter. Finally, RWC Asset Management LLP boosted its holdings in XPeng by 167.9% in the 4th quarter. RWC Asset Management LLP now owns 1,221,899 shares of the company’s stock worth $17,828,000 after buying an additional 765,824 shares during the period. 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 (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.