XPeng (NYSE:XPEV) Shares Gap Up - Still a Buy?

XPeng Inc. Sponsored ADR (NYSE:XPEV - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $18.65, but opened at $19.06. XPeng shares last traded at $18.83, with a volume of 1,116,658 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have commented on XPEV shares. UBS Group upgraded shares of XPeng from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $8.80 to $18.00 in a research note on Monday, February 24th. Morgan Stanley set a $28.00 price objective on shares of XPeng and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Daiwa America lowered shares of XPeng from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 19th. Nomura upgraded 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 research note on Wednesday, March 19th. Finally, Sanford C. Bernstein set a $19.00 price target on shares of XPeng and gave the company a "market perform" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.73.

XPeng Stock Performance

The firm has a fifty day moving average price of $19.69 and a 200 day moving average price of $17.74. The company has a current ratio of 1.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.34. The firm has a market cap of $17.40 billion, a PE ratio of -24.44 and a beta of 2.58.

XPeng (NYSE:XPEV - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.51) by $1.41. The firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $15.80 billion. XPeng had a negative net margin of 10.20% and a negative return on equity of 15.89%. As a group, equities research analysts expect that XPeng Inc. Sponsored ADR will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of XPeng

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of XPeng by 1,138.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company's stock valued at $54,354,000 after purchasing an additional 4,227,055 shares in the last quarter. Van ECK Associates Corp boosted its position in XPeng by 14.2% in the 4th quarter. Van ECK Associates Corp now owns 253,875 shares of the company's stock valued at $3,001,000 after buying an additional 31,538 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of XPeng in the fourth quarter worth $554,000. AI Squared Management Ltd purchased a new stake in shares of XPeng during the fourth quarter worth $2,126,000. Finally, Northern Trust Corp raised its stake in shares of XPeng by 20.9% in the fourth quarter. Northern Trust Corp now owns 160,733 shares of the company's stock valued at $1,900,000 after acquiring an additional 27,838 shares in the last quarter. 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.