XPeng (NYSE:XPEV) Shares Gap Up - Time to Buy?

Shares of XPeng Inc. (NYSE:XPEV - Get Free Report) gapped up prior to trading 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.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays boosted their target price on XPeng from $7.00 to $20.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. reduced their target price on shares of XPeng from $35.00 to $31.00 and set an "overweight" rating for the company in a research note on Wednesday, March 19th. Sanford C. Bernstein set a $19.00 price target on shares of XPeng and gave the company a "market perform" rating in a report on Thursday, May 22nd. Daiwa Capital Markets reaffirmed a "neutral" rating and issued a $24.00 price target on shares of XPeng in a research report on Wednesday, March 19th. Finally, Nomura raised shares of XPeng from a "neutral" rating to a "buy" rating and increased their price target for the company from $14.00 to $30.00 in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $23.73.

XPeng Stock Performance

The company has a market cap of $17.87 billion, a P/E ratio of -21.65 and a beta of 2.58. 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 company's 50-day moving average is $19.63 and its two-hundred day moving average is $17.69.

XPeng (NYSE:XPEV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported ($0.10) EPS for the quarter, beating the consensus estimate 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 business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $15.80 billion. Equities analysts predict that XPeng Inc. will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of XPEV. TMT General Partner Ltd increased its holdings in shares of XPeng by 88.2% in the first quarter. TMT General Partner Ltd now owns 32,726,800 shares of the company's stock worth $678,099,000 after buying an additional 15,340,907 shares during the period. Alibaba Group Holding Ltd grew its position in shares of XPeng by 21.2% in the 4th quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company's stock worth $448,678,000 after buying an additional 6,650,000 shares during the period. BNP Paribas Financial Markets increased its stake in shares of XPeng by 567.4% in the 1st quarter. BNP Paribas Financial Markets now owns 5,306,883 shares of the company's stock worth $109,959,000 after acquiring an additional 4,511,751 shares in the last quarter. JPMorgan Chase & Co. lifted its position in XPeng by 1,138.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company's stock valued at $54,354,000 after acquiring an additional 4,227,055 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in XPeng by 947.5% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company's stock worth $20,800,000 after acquiring an additional 1,591,750 shares in the last quarter. Hedge funds and other institutional investors own 21.09% of the company's stock.

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.

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