XPeng (NYSE:XPEV) Shares Gap Up - Here's What Happened

XPeng Inc. (NYSE:XPEV - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $19.33, but opened at $20.32. XPeng shares last traded at $20.17, with a volume of 1,550,461 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on XPEV shares. Citigroup upgraded shares of XPeng from a "neutral" rating to a "buy" rating and raised their price target for the stock from $13.70 to $29.00 in a research note on Monday, March 10th. Daiwa America downgraded XPeng from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Nomura Securities upgraded XPeng to a "strong-buy" rating in a research report on Tuesday, March 18th. Daiwa Capital Markets reissued a "neutral" rating and set a $24.00 price objective on shares of XPeng in a report on Wednesday, March 19th. Finally, Nomura raised shares of XPeng from a "neutral" rating to a "buy" rating and upped their target price for the stock from $14.00 to $30.00 in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $22.29.

XPeng Trading Down 0.1%

The business's fifty day moving average is $19.61 and its two-hundred day moving average is $17.11. 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 firm has a market cap of $18.30 billion, a price-to-earnings ratio of -22.16 and a beta of 2.64.

XPeng (NYSE:XPEV - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($1.51) by $1.41. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $15.80 billion. Equities analysts anticipate that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of XPeng

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of XPeng by 221.0% in the 4th quarter. Blue Trust Inc. now owns 20,699 shares of the company's stock worth $252,000 after purchasing an additional 14,250 shares during the last quarter. KBC Group NV boosted its holdings in XPeng by 22.2% during the fourth quarter. KBC Group NV now owns 32,312 shares of the company's stock worth $382,000 after buying an additional 5,879 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of XPeng by 1.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 214,411 shares of the company's stock worth $2,534,000 after buying an additional 3,821 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of XPeng in the 4th quarter valued at about $41,000. Finally, Savant Capital LLC acquired a new stake in shares of XPeng in the 4th quarter valued at approximately $229,000. Institutional investors and hedge funds own 21.09% of the company's stock.

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.