XPeng (NYSE:XPEV) Shares Gap Up – Here’s What Happened

Shares of XPeng Inc. (NYSE:XPEV) gapped up before the market opened on Monday . The stock had previously closed at $12.50, but opened at $13.68. XPeng shares last traded at $14.59, with a volume of 8,717,312 shares traded.

Analyst Ratings Changes

A number of equities research analysts have commented on XPEV shares. Bank of America reduced their target price on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. UBS Group reaffirmed a “sell” rating and issued a $8.80 target price (up previously from $8.20) on shares of XPeng in a research report on Thursday, December 5th. Citigroup lowered their target price on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of 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 research note on Thursday, September 5th. Finally, Sanford C. Bernstein increased their price objective on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.69.

XPeng Stock Performance

The stock has a market capitalization of $12.39 billion, a PE ratio of -15.12 and a beta of 2.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The firm’s 50 day moving average is $12.28 and its two-hundred day moving average is $9.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of XPeng by 122.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after buying an additional 2,920 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in XPeng in the third quarter worth approximately $45,000. Blue Trust Inc. grew its holdings in XPeng by 2,615.9% during the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock worth $75,000 after acquiring an additional 9,391 shares in the last quarter. 180 Wealth Advisors LLC acquired a new position in XPeng during the 2nd quarter worth approximately $78,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of XPeng in the 3rd quarter valued at approximately $110,000. 21.09% of the stock is owned by institutional investors and hedge funds.

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.