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

Shares of XPeng Inc. (NYSE:XPEV) gapped up before the market opened on Tuesday . The stock had previously closed at $11.75, but opened at $12.23. XPeng shares last traded at $12.77, with a volume of 3,968,387 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on XPEV shares. The Goldman Sachs Group cut XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a research note on Thursday, November 21st. China Renaissance raised XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price for the company in a research report on Friday, November 22nd. UBS Group restated a “sell” rating and issued a $8.80 price objective (up from $8.20) on shares of XPeng in a research note on Thursday, December 5th. Sanford C. Bernstein raised their target price on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Finally, Citigroup reduced their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.69.

XPeng Stock Performance

The stock has a market cap of $11.74 billion, a P/E ratio of -14.32 and a beta of 2.74. The stock has a fifty day simple moving average of $12.54 and a 200-day simple moving average of $10.26. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On XPeng

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in XPeng during the third quarter worth $45,000. Venturi Wealth Management LLC acquired a new position in shares of XPeng in the third quarter valued at approximately $110,000. Susquehanna International Securities Ltd. acquired a new stake in shares of XPeng during the second quarter worth $129,000. Atomi Financial Group Inc. acquired a new stake in XPeng in the 3rd quarter worth about $129,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in XPeng by 24.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company’s stock valued at $163,000 after purchasing an additional 2,609 shares during the period. 21.09% of the stock is owned by 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.