XPeng (NYSE:XPEV) Shares Gap Up – What’s Next?

XPeng Inc. (NYSE:XPEV) shares gapped up prior to trading on Monday . The stock had previously closed at $19.70, but opened at $20.22. XPeng shares last traded at $20.62, with a volume of 2,107,798 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on XPEV shares. Daiwa America downgraded shares of XPeng from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Macquarie reiterated a “neutral” rating and set a $18.00 price objective on shares of XPeng in a report on Friday, February 7th. Bank of America lifted their target price on shares of XPeng from $18.60 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, March 19th. Barclays boosted their price objective on shares of XPeng from $7.00 to $20.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. Finally, Nomura Securities upgraded XPeng to a “strong-buy” rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.20.

XPeng Trading Up 1.2 %

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 firm has a market cap of $19.75 billion, a PE ratio of -24.10 and a beta of 2.68. The company has a 50-day simple moving average of $19.30 and a 200 day simple moving average of $14.68.

XPeng (NYSE:XPEV) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.36) by $1.17. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $16.11 billion. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. As a group, sell-side analysts forecast that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XPeng

A number of large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its position in shares of XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock valued at $30,000 after buying an additional 898 shares in the last quarter. Avior Wealth Management LLC grew its stake in XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after acquiring an additional 2,564 shares during the period. Lindbrook Capital LLC increased its holdings in XPeng by 50.7% in the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after acquiring an additional 1,138 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in XPeng in the 4th quarter worth $41,000. Finally, Natixis acquired a new position in XPeng during the fourth quarter worth $43,000. Institutional investors and hedge funds own 21.09% 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.