XPeng (NYSE:XPEV) Shares Gap Up to $7.08

XPeng Inc. (NYSE:XPEV - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $7.08, but opened at $7.69. XPeng shares last traded at $7.82, with a volume of 6,863,925 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on XPEV. JPMorgan Chase & Co. dropped their target price on XPeng from $19.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, February 23rd. Macquarie began coverage on XPeng in a report on Monday, April 15th. They issued a "neutral" rating and a $7.00 price target for the company. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $17.48.

XPeng Trading Up 10.7 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 1.51. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of -4.67 and a beta of 2.93. The company has a 50 day moving average price of $8.49 and a two-hundred day moving average price of $11.88.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in XPeng by 7.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 11,066 shares of the company's stock valued at $203,000 after purchasing an additional 732 shares during the last quarter. Lindbrook Capital LLC raised its stake in XPeng by 33.0% in the 3rd quarter. Lindbrook Capital LLC now owns 3,149 shares of the company's stock valued at $58,000 after purchasing an additional 781 shares during the last quarter. Compagnie Lombard Odier SCmA raised its stake in XPeng by 322.2% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,900 shares of the company's stock valued at $28,000 after purchasing an additional 1,450 shares during the last quarter. Van ECK Associates Corp raised its stake in XPeng by 0.8% in the 4th quarter. Van ECK Associates Corp now owns 197,640 shares of the company's stock valued at $2,884,000 after purchasing an additional 1,523 shares during the last quarter. Finally, Ballentine Partners LLC raised its stake in XPeng by 14.6% in the 4th quarter. Ballentine Partners LLC now owns 13,557 shares of the company's stock valued at $198,000 after purchasing an additional 1,729 shares during the last quarter. 23.05% of the stock is owned by institutional investors and hedge funds.

About XPeng

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EV) 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, maintenance, super charging, technical support, auto financing, insurance technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.