XPeng (NYSE:XPEV) Stock Price Up 7.6% – Still a Buy?

XPeng Inc. (NYSE:XPEV) rose 7.6% on Friday . The company traded as high as $19.49 and last traded at $19.33. Approximately 4,207,240 shares were traded during trading, a decline of 68% from the average daily volume of 13,006,420 shares. The stock had previously closed at $17.97.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Bank of America boosted their price target on XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. Barclays increased their price target on shares of XPeng from $7.00 to $20.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Sanford C. Bernstein set a $18.00 price objective on shares of XPeng and gave the stock a “market perform” rating in a research report on Wednesday, March 19th. Nomura upgraded XPeng from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $30.00 in a research report on Wednesday, March 19th. Finally, Macquarie restated a “neutral” rating and issued a $18.00 price target on shares of XPeng in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.20.

XPeng Price Performance

The firm has a market cap of $18.87 billion, a PE ratio of -23.03 and a beta of 2.62. The stock’s fifty day moving average price is $19.96 and its 200-day moving average price is $15.23. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

XPeng (NYSE:XPEV) last announced its 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. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $16.11 billion. As a group, equities analysts forecast that XPeng Inc. will post -0.96 EPS for the current fiscal year.

Hedge Funds Weigh In On XPeng

A number of large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in XPeng by 55.8% in the 4th 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 during the last quarter. Avior Wealth Management LLC grew its stake in XPeng by 1,215.2% during the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after purchasing an additional 2,564 shares in the last quarter. Lindbrook Capital LLC increased its holdings in XPeng by 50.7% during the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after purchasing an additional 1,138 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of XPeng in the 4th quarter valued at approximately $41,000. Finally, Natixis purchased a new position in shares of XPeng during the 4th quarter valued at approximately $43,000. 21.09% of the stock is currently owned by hedge funds and other 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.