XPeng (NYSE:XPEV) Sets New 12-Month High – Here’s Why

XPeng Inc. (NYSE:XPEV) hit a new 52-week high during trading on Tuesday . The stock traded as high as $19.43 and last traded at $19.35, with a volume of 603539 shares traded. The stock had previously closed at $18.14.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on XPEV shares. UBS Group upgraded shares of XPeng from a “sell” rating to a “neutral” rating and raised their price objective for the company from $8.80 to $18.00 in a research report on Monday. Citigroup lowered their price target 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. Macquarie reiterated a “neutral” rating and issued a $18.00 price objective on shares of XPeng in a research report on Friday, February 7th. The Goldman Sachs Group lowered shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a report on Thursday, November 21st. Finally, China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target for the company in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, XPeng currently has an average rating of “Moderate Buy” and an average target price of $13.93.

XPeng Price Performance

The business has a fifty day simple moving average of $14.38 and a two-hundred day simple moving average of $12.04. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The stock has a market cap of $17.85 billion, a PE ratio of -21.75 and a beta of 2.77.

Institutional Investors Weigh In On XPeng

Several hedge funds have recently added to or reduced their stakes in XPEV. Public Employees Retirement System of Ohio bought a new position in shares of XPeng in the fourth quarter worth approximately $70,000. Vise Technologies Inc. purchased a new position in XPeng in the 4th quarter worth approximately $142,000. Vident Advisory LLC lifted its position in XPeng by 7.6% in the 4th quarter. Vident Advisory LLC now owns 53,632 shares of the company’s stock valued at $634,000 after acquiring an additional 3,810 shares in the last quarter. Twinbeech Capital LP boosted its stake in XPeng by 22.4% during the 4th quarter. Twinbeech Capital LP now owns 407,097 shares of the company’s stock valued at $4,812,000 after purchasing an additional 74,574 shares during the last quarter. Finally, Polar Capital Holdings Plc bought a new stake in shares of XPeng in the 4th quarter worth $6,596,000. 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.