XPeng (NYSE:XPEV) Shares Up 4.4%

XPeng Inc. (NYSE:XPEV) traded up 4.4% on Wednesday . The stock traded as high as $7.88 and last traded at $7.84. 5,398,721 shares traded hands during trading, a decline of 60% from the average session volume of 13,482,568 shares. The stock had previously closed at $7.51.

Analysts Set New Price Targets

A number of brokerages recently issued reports on XPEV. Daiwa Capital Markets upgraded XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Thursday, May 23rd. Macquarie started coverage on shares of XPeng in a research note on Monday, April 15th. They issued a “neutral” rating and a $7.00 price objective for the company. Citigroup upgraded shares of XPeng from a “sell” rating to a “neutral” rating and lifted their target price for the company from $7.70 to $8.30 in a research note on Tuesday, June 25th. Finally, Daiwa America upgraded XPeng to a “strong-buy” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, XPeng currently has an average rating of “Moderate Buy” and an average target price of $16.28.

XPeng Price Performance

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 fifty day simple moving average of $8.05 and a two-hundred day simple moving average of $8.97. The firm has a market cap of $7.59 billion, a PE ratio of -5.36 and a beta of 2.76.

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

Hedge Funds Weigh In On XPeng

Several hedge funds have recently added to or reduced their stakes in XPEV. Advisors Asset Management Inc. lifted its stake in shares of XPeng by 11.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 33,917 shares of the company’s stock worth $623,000 after acquiring an additional 3,579 shares during the last quarter. Compagnie Lombard Odier SCmA grew its holdings in shares of XPeng by 322.2% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,900 shares of the company’s stock worth $28,000 after purchasing an additional 1,450 shares during the last quarter. Ballentine Partners LLC increased its stake in XPeng by 14.6% in the 4th quarter. Ballentine Partners LLC now owns 13,557 shares of the company’s stock worth $198,000 after buying an additional 1,729 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in XPeng by 9.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 77,400 shares of the company’s stock valued at $1,129,000 after buying an additional 7,000 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in XPeng by 6.3% during the 4th quarter. Vontobel Holding Ltd. now owns 71,145 shares of the company’s stock valued at $1,038,000 after buying an additional 4,227 shares in the last quarter. 23.05% of the stock is currently owned by institutional investors.

XPeng Company Profile

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.