XPENG (NYSE:XPEV) Shares Gap Up - Here's Why

Key Points

• XPENG shares gapped up ahead of Thursday’s open, rising from a prior close of $13.78 to an opening price of $14.32.
• Analyst opinions remain mixed: Jefferies and Bank of America kept buy ratings, while others issued sell or underperform calls. The consensus rating is Hold with an average price target of $25.40.
• In its latest quarterly report, XPENG posted an EPS loss of $0.27, wider than expected, though revenue of $1.89 billion slightly beat estimates. Analysts currently expect the company to remain unprofitable this year.

XPENG Inc. Sponsored ADR (NYSE:XPEV - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $13.78, but opened at $14.32. XPENG shares last traded at $14.3820, with a volume of 2,633,958 shares changing hands.

Analysts Set New Price Targets

XPEV has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and set a $25.20 price objective on shares of XPENG in a research report on Friday, May 29th. BNP Paribas Exane lowered shares of XPENG from a "neutral" rating to an "underperform" rating in a research report on Wednesday, April 22nd. Wall Street Zen cut shares of XPENG from a "hold" rating to a "sell" rating in a research note on Sunday, May 24th. Bank of America reaffirmed a "buy" rating on shares of XPENG in a report on Thursday, May 28th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of XPENG in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $25.40.

XPENG Price Performance

The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $14.67 and a 200-day moving average of $17.02. The firm has a market capitalization of $13.57 billion, a P/E ratio of -41.83 and a beta of 1.12.

XPENG (NYSE:XPEV - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.16). The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. XPENG had a negative return on equity of 7.72% and a negative net margin of 3.09%. On average, sell-side analysts predict that XPENG Inc. Sponsored ADR will post -0.35 EPS for the current year.

Institutional Trading of XPENG

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in shares of XPENG by 7.1% during the fourth quarter. SG Americas Securities LLC now owns 1,168,406 shares of the company's stock worth $23,695,000 after purchasing an additional 77,476 shares during the period. DNB Asset Management AS bought a new stake in shares of XPENG in the fourth quarter valued at approximately $2,325,000. Abacus Wealth Partners LLC acquired a new stake in XPENG during the fourth quarter worth approximately $1,060,000. Parallel Advisors LLC grew its position in XPENG by 25.0% during the first quarter. Parallel Advisors LLC now owns 12,871 shares of the company's stock worth $220,000 after buying an additional 2,578 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in XPENG by 54.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,035 shares of the company's stock worth $103,000 after acquiring an additional 2,129 shares during the period. Institutional investors own 21.09% of the company's stock.

XPENG Company Profile

XPENG Inc NYSE: XPEV is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.

Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.

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