XPeng (NYSE:XPEV) Shares Gap Up - What's Next?

XPeng Inc. (NYSE:XPEV - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $20.22, but opened at $21.45. XPeng shares last traded at $21.34, with a volume of 2,009,086 shares traded.

Analyst Upgrades and Downgrades

XPEV has been the subject of a number of analyst reports. Macquarie reissued a "neutral" rating and set a $18.00 target price on shares of XPeng in a research report on Friday, February 7th. The Goldman Sachs Group cut XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price objective for the company. in a research report on Thursday, November 21st. Sanford C. Bernstein increased their price target on XPeng from $9.00 to $14.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. Citigroup raised 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 report on Monday. Finally, China Renaissance upgraded shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 price objective on the stock in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, XPeng presently has an average rating of "Moderate Buy" and an average price target of $15.63.

XPeng Stock Up 14.9 %

The firm has a market capitalization of $24.84 billion, a price-to-earnings ratio of -30.31 and a beta of 2.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The business has a fifty day moving average price of $16.15 and a two-hundred day moving average price of $13.08.

Hedge Funds Weigh In On XPeng

Hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in shares of XPeng by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 222,337 shares of the company's stock valued at $2,481,000 after acquiring an additional 10,148 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in XPeng during the 3rd quarter worth about $110,000. Central Asset Investments & Management Holdings HK Ltd raised its stake in shares of XPeng by 36.0% during the 3rd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company's stock valued at $4,969,000 after buying an additional 108,000 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of XPeng by 48.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company's stock valued at $604,000 after buying an additional 16,289 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of XPeng by 14.2% in the 3rd quarter. Citigroup Inc. now owns 293,321 shares of the company's stock valued at $3,573,000 after buying an additional 36,560 shares during the period. Institutional investors and hedge funds 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.