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

XPeng Inc. (NYSE:XPEV - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $19.70, but opened at $20.22. XPeng shares last traded at $20.62, with a volume of 2,107,798 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on XPEV shares. Citigroup raised shares of XPeng from a "neutral" rating to a "buy" rating and lifted their price target for the company from $13.70 to $29.00 in a research report on Monday, March 10th. Sanford C. Bernstein set a $18.00 price target on XPeng and gave the company a "market perform" rating in a research note on Wednesday, March 19th. Barclays raised their price objective on XPeng from $7.00 to $20.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. Nomura raised shares of XPeng from a "neutral" rating to a "buy" rating and increased their target price for the stock from $14.00 to $30.00 in a research note on Wednesday, March 19th. Finally, Macquarie reissued a "neutral" rating and issued a $18.00 price target on shares of XPeng in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $22.20.

XPeng Stock Down 8.0 %

The firm has a market cap of $18.30 billion, a PE ratio of -22.33 and a beta of 2.62. 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 business has a 50-day moving average price of $19.57 and a two-hundred day moving average price of $14.77.

XPeng (NYSE:XPEV - Get Free Report) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.36) by $1.17. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $16.11 billion. On average, equities research analysts expect that XPeng Inc. will post -0.96 EPS for the current year.

Institutional Trading of XPeng

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its position in shares of XPeng by 55.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company's stock worth $30,000 after acquiring an additional 898 shares in the last quarter. Avior Wealth Management LLC raised its stake in XPeng by 1,215.2% during the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company's stock worth $33,000 after acquiring an additional 2,564 shares in the last quarter. Lindbrook Capital LLC increased its position in XPeng by 50.7% during the fourth quarter. Lindbrook Capital LLC now owns 3,382 shares of the company's stock worth $40,000 after buying an additional 1,138 shares during the period. Golden State Wealth Management LLC purchased a new stake in XPeng in the fourth quarter valued at approximately $41,000. Finally, Natixis acquired a new stake in XPeng during the 4th quarter worth $43,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.

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.