XPeng (NYSE:XPEV) Shares Gap Up - Should You Buy?

Shares of XPeng Inc. (NYSE:XPEV - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $19.13, but opened at $20.74. XPeng shares last traded at $21.42, with a volume of 7,784,874 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group upgraded XPeng from a "sell" rating to a "neutral" rating and upped their target price for the stock from $8.80 to $18.00 in a research note on Monday, February 24th. Citigroup dropped their price objective on shares of XPeng from $14.60 to $13.70 and set a "neutral" rating on the stock in a research note on Wednesday, November 20th. Macquarie reaffirmed a "neutral" rating and set a $18.00 target price on shares of XPeng in a report on Friday, February 7th. China Renaissance raised shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 price target on the stock in a report on Friday, November 22nd. Finally, The Goldman Sachs Group lowered shares of XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price target on the stock. in a research report on Thursday, November 21st. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, XPeng currently has an average rating of "Moderate Buy" and a consensus target price of $13.93.

XPeng Price Performance

The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock's 50-day simple moving average is $15.07 and its two-hundred day simple moving average is $12.41. The company has a market capitalization of $20.26 billion, a price-to-earnings ratio of -24.72 and a beta of 2.77.

Institutional Investors Weigh In On XPeng

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in XPeng in the 4th quarter valued at $70,000. Vise Technologies Inc. acquired a new stake in shares of XPeng in the fourth quarter valued at about $142,000. Vident Advisory LLC lifted its stake in shares of XPeng by 7.6% in the fourth quarter. Vident Advisory LLC now owns 53,632 shares of the company's stock worth $634,000 after buying an additional 3,810 shares in the last quarter. Twinbeech Capital LP boosted its position in XPeng by 22.4% during the fourth quarter. Twinbeech Capital LP now owns 407,097 shares of the company's stock worth $4,812,000 after acquiring an additional 74,574 shares during the last quarter. Finally, Polar Capital Holdings Plc purchased a new stake in XPeng during the 4th quarter valued at about $6,596,000. 21.09% of the stock is currently owned by hedge funds and other institutional investors.

About XPeng

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.