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

Shares of XPeng Inc. (NYSE:XPEV - Get Free Report) 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 trading hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on XPEV shares. Macquarie initiated coverage on shares of XPeng in a research report on Monday, April 15th. They set a "neutral" rating and a $7.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on XPeng from $19.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, XPeng currently has a consensus rating of "Hold" and a consensus target price of $17.48.

XPeng Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 1.36. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of -5.21 and a beta of 2.84. The stock's 50 day simple moving average is $8.43 and its 200-day simple moving average is $11.67.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its holdings in XPeng by 8,035.6% during the 3rd quarter. FMR LLC now owns 5,311,499 shares of the company's stock valued at $97,519,000 after purchasing an additional 5,246,212 shares during the last quarter. Norges Bank acquired a new stake in shares of XPeng during the fourth quarter worth approximately $41,993,000. RWC Asset Advisors US LLC raised its stake in shares of XPeng by 170.3% in the fourth quarter. RWC Asset Advisors US LLC now owns 4,434,392 shares of the company's stock valued at $64,698,000 after acquiring an additional 2,793,550 shares during the last quarter. UBS Group AG boosted its holdings in shares of 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 bought a new stake in XPeng during the 4th quarter worth approximately $26,047,000. 23.05% of the stock is owned by institutional investors.

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.