XPeng (NYSE:XPEV) Shares Up 5.8%

XPeng Inc. (NYSE:XPEV)’s stock price shot up 5.8% during mid-day trading on Tuesday . The stock traded as high as $8.69 and last traded at $8.52. 6,723,029 shares were traded during trading, a decline of 48% from the average session volume of 13,002,050 shares. The stock had previously closed at $8.05.

Analysts Set New Price Targets

Several brokerages have recently weighed in on XPEV. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Daiwa America raised shares of XPeng to a “strong-buy” rating in a research note on Thursday, May 23rd. 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 report on Thursday, May 23rd. JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $8.00 to $11.50 in a research report on Thursday. Finally, Citigroup lowered their price target on shares of XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, XPeng currently has a consensus rating of “Buy” and a consensus price target of $12.08.

XPeng Stock Performance

The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average is $7.76 and its two-hundred day moving average is $8.12. The company has a market capitalization of $8.32 billion, a P/E ratio of -5.70 and a beta of 2.75.

Hedge Funds Weigh In On XPeng

A number of institutional investors have recently added to or reduced their stakes in XPEV. Natixis bought a new position in shares of XPeng during the 1st quarter valued at approximately $38,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings 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 acquiring an additional 2,920 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of XPeng during the 4th quarter worth approximately $52,000. Blue Trust Inc. raised 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 valued at $75,000 after buying an additional 9,391 shares during the period. Finally, 180 Wealth Advisors LLC purchased a new stake in XPeng during the 2nd quarter valued at $78,000. Institutional investors own 23.05% of the company’s stock.

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.