XPENG (NYSE:XPEV) Share Price Breaks Above 50 Day Moving Average - Time to Sell?

Key Points

• XPENG shares moved above their 50-day moving average of $9.97, reaching $10.26 before last trading at $10.223 on volume of about 10.46 million shares.
• Analyst views are mixed: five analysts rate the stock Buy, two Hold and four Sell. MarketBeat’s consensus rating is Hold, with an average price target of $20.62.
• Several institutional investors opened or increased positions in XPENG in recent quarters; institutions collectively own 21.09% of the company’s shares.

XPENG Inc. Sponsored ADR (NYSE:XPEV - Get Free Report) shares passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $9.97 and traded as high as $10.26. XPENG shares last traded at $10.2230, with a volume of 10,457,121 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on XPEV. UBS Group assumed coverage on XPENG in a research report on Wednesday, September 9th. They issued a "neutral" rating and a $12.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of XPENG from $11.50 to $10.00 and set a "neutral" rating for the company in a research report on Monday, October 26th. Barclays reduced their target price on shares of XPENG from $15.00 to $14.00 and set an "underweight" rating for the company in a research note on Tuesday, August 25th. Weiss Ratings lowered shares of XPENG from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, October 14th. Finally, The Goldman Sachs Group set a $16.00 price objective on shares of XPENG in a research note on Friday, October 23rd. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $20.62.

XPENG Trading Up 6.5%

The stock has a market capitalization of $9.76 billion, a PE ratio of -21.30 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.86 and a current ratio of 1.11. The stock has a 50-day moving average price of $9.97 and a two-hundred day moving average price of $14.25.

Institutional Trading of XPENG

Institutional investors have recently made changes to their positions in the stock. Aberdeen Group plc purchased a new stake in shares of XPENG during the third quarter worth $1,201,000. Quadrant Capital Group LLC lifted its holdings in XPENG by 393.4% in the third quarter. Quadrant Capital Group LLC now owns 93,100 shares of the company's stock valued at $908,000 after buying an additional 74,230 shares during the period. Nykredit A S bought a new position in shares of XPENG in the second quarter worth $825,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in XPENG during the third quarter valued at $493,000. Finally, SteelPeak Wealth LLC bought a new position in XPENG during the 3rd quarter worth about $213,000. Hedge funds and other institutional investors own 21.09% of the company's stock.

About XPENG

XPeng Inc is a China-based technology company focused on the design, development, manufacture and sale of smart electric vehicles. The company combines electric powertrain technology with software, connectivity and advanced driver-assistance features to develop vehicles intended for digitally connected and increasingly automated transportation.

XPeng's product portfolio has included electric sedans, sport utility vehicles and multipurpose vehicles, such as the P7 sedan, P5 sedan, G6 and G9 SUVs, and X9 multipurpose vehicle.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.