XPeng (NYSE:XPEV) Trading 3.3% Higher

XPeng Inc. (NYSE:XPEV) shot up 3.3% during trading on Tuesday . The company traded as high as $7.79 and last traded at $7.76. 3,123,516 shares traded hands during trading, a decline of 76% from the average session volume of 12,875,612 shares. The stock had previously closed at $7.51.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on XPEV shares. JPMorgan Chase & Co. decreased their price target on XPeng from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. Bank of America decreased their target price on XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Citigroup lowered their price target on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Daiwa America upgraded XPeng to a “strong-buy” rating in a research note on Thursday, May 23rd. Finally, Daiwa Capital Markets upgraded shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.50.

XPeng Stock Performance

The firm’s fifty day simple moving average is $7.72 and its 200 day simple moving average is $8.16. The company has a market capitalization of $7.54 billion, a price-to-earnings ratio of -5.41 and a beta of 2.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.32.

Institutional Trading of XPeng

A number of hedge funds have recently made changes to their positions in the stock. Natixis purchased a new position in XPeng in the first quarter valued at about $38,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of XPeng by 122.4% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock worth $39,000 after purchasing an additional 2,920 shares during the last quarter. Scarborough Advisors LLC bought a new stake in XPeng in the fourth quarter worth $52,000. Blue Trust Inc. lifted its position in shares of XPeng by 2,615.9% in the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock worth $75,000 after buying an additional 9,391 shares during the last quarter. Finally, 180 Wealth Advisors LLC bought a new position in shares of XPeng in the second quarter valued at approximately $78,000. 23.05% of the stock is owned by hedge funds and other 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.