XPeng (NYSE:XPEV) Shares Gap Up – Here’s Why

XPeng Inc. (NYSE:XPEV) shares gapped up before the market opened on Friday . The stock had previously closed at $18.67, but opened at $19.86. XPeng shares last traded at $19.72, with a volume of 2,134,965 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on XPEV shares. Barclays raised their target price on shares of XPeng from $7.00 to $20.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. UBS Group upgraded XPeng from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $8.80 to $18.00 in a report on Monday, February 24th. Macquarie reiterated a “neutral” rating and issued a $18.00 target price on shares of XPeng in a report on Friday, February 7th. Citigroup upgraded XPeng from a “neutral” rating to a “buy” rating and raised their price target for the company from $13.70 to $29.00 in a research note on Monday, March 10th. Finally, Bank of America upped their price objective 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.20.

XPeng Price Performance

The stock has a market capitalization of $18.77 billion, a PE ratio of -22.74 and a beta of 2.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The stock’s fifty day moving average is $20.63 and its 200-day moving average is $15.96.

XPeng (NYSE:XPEV) last posted its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $16.11 billion. As a group, equities analysts predict that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its stake in XPeng by 70.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company’s stock valued at $27,000 after acquiring an additional 532 shares during the period. EverSource Wealth Advisors LLC grew 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 purchasing an additional 898 shares during the period. Avior Wealth Management LLC grew its position in shares of XPeng by 1,215.2% in the fourth 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 during the period. Garde Capital Inc. purchased a new stake in shares of XPeng during the first quarter worth about $39,000. Finally, Lindbrook Capital LLC raised its position in shares of 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. 21.09% of the stock is owned by institutional investors and hedge funds.

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.