XPENG (NYSE:XPEV) Shares Gap Up - Time to Buy?

Key Points

• XPENG shares rose 8.1%, opening at $9.51 after closing at $9.04 and last trading at $9.71 on volume of roughly 2.25 million shares.
• Analyst sentiment remains mixed: the stock carries a consensus “Hold” rating, with price targets ranging from $10 to $16 among recent reports and a MarketBeat consensus target of $21.24.
• XPENG has a market capitalization of approximately $9.33 billion, while institutional investors own 21.09% of its shares; several hedge funds recently increased or initiated positions.

XPENG Inc. Sponsored ADR (NYSE:XPEV - Get Free Report)'s stock price gapped up prior to trading on Monday. The stock had previously closed at $9.04, but opened at $9.51. XPENG shares last traded at $9.71, with a volume of 2,247,660 shares.

Analysts Set New Price Targets

XPEV has been the subject of several recent analyst reports. UBS Group began coverage on shares of XPENG in a research note on Wednesday, September 9th. They issued a "neutral" rating and a $12.00 target price for the company. JPMorgan Chase & Co. reduced their price target on XPENG from $11.50 to $10.00 and set a "neutral" rating for the company in a research report on Monday, October 26th. The Goldman Sachs Group set a $16.00 price target on shares of XPENG in a research report on Friday, October 23rd. Barclays reduced their target price on XPENG from $15.00 to $14.00 and set an "underweight" rating on the stock in a research note on Tuesday, August 25th. Finally, Weiss Ratings lowered XPENG from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $21.24.

XPENG Stock Up 8.1%

The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50. The firm has a market cap of $9.33 billion, a PE ratio of -20.36 and a beta of 0.96. The company's 50 day moving average price is $10.15 and its two-hundred day moving average price is $14.52.

Hedge Funds Weigh In On XPENG

A number of large investors have recently bought and sold shares of XPEV. Valeo Financial Advisors LLC increased its position in shares of XPENG by 0.3% during the second quarter. Valeo Financial Advisors LLC now owns 387,230 shares of the company's stock worth $5,127,000 after purchasing an additional 1,052 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in XPENG by 393.4% in the 3rd 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 in the last quarter. Nykredit A S purchased a new position in XPENG in the 2nd quarter valued at $825,000. Crossmark Global Holdings Inc. raised its position in shares of XPENG by 28.0% in the third quarter. Crossmark Global Holdings Inc. now owns 67,900 shares of the company's stock valued at $649,000 after buying an additional 14,842 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in XPENG during the 3rd quarter valued at about $493,000. Hedge funds and other institutional investors own 21.09% of the company's stock.

XPENG Company Profile

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.

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