XPeng (NYSE:XPEV) Shares Gap Up to $8.12

XPeng Inc. (NYSE:XPEV) shares gapped up before the market opened on Thursday . The stock had previously closed at $8.12, but opened at $8.74. XPeng shares last traded at $8.73, with a volume of 4,791,494 shares changing hands.

Analysts Set New Price Targets

XPEV has been the topic of several research analyst reports. Macquarie began coverage on shares of XPeng in a report on Monday, April 15th. They issued a “neutral” rating and a $7.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of XPeng from $19.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, February 23rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.48.

XPeng Price Performance

The firm has a market capitalization of $8.54 billion, a P/E ratio of -5.40 and a beta of 2.84. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average price of $8.43 and a 200-day moving average price of $11.65.

XPeng (NYSE:XPEV) last posted its quarterly earnings data on Tuesday, March 19th. The company reported ($0.21) EPS for the quarter. XPeng had a negative return on equity of 31.17% and a negative net margin of 33.77%. The firm had revenue of $1.84 billion for the quarter. On average, analysts expect that XPeng Inc. will post -1.25 earnings per share for the current year.

Institutional Trading of XPeng

Several institutional investors have recently added to or reduced their stakes in XPEV. FMR LLC increased its stake in XPeng by 8,035.6% in the third quarter. FMR LLC now owns 5,311,499 shares of the company’s stock worth $97,519,000 after purchasing an additional 5,246,212 shares during the period. Norges Bank bought a new stake in XPeng during the 4th quarter valued at about $41,993,000. RWC Asset Advisors US LLC boosted its position in XPeng by 170.3% in the 4th quarter. RWC Asset Advisors US LLC now owns 4,434,392 shares of the company’s stock valued at $64,698,000 after buying an additional 2,793,550 shares during the period. UBS Group AG grew its stake in XPeng by 1,500.6% in the 3rd quarter. UBS Group AG now owns 2,442,935 shares of the company’s stock worth $44,852,000 after acquiring an additional 2,290,309 shares in the last quarter. Finally, Electron Capital Partners LLC purchased a new position in shares of XPeng during the fourth quarter worth approximately $26,047,000. Institutional investors own 23.05% of the company’s stock.

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.