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

XPeng Inc. (NYSE:XPEV - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $22.95, but opened at $25.25. XPeng shares last traded at $26.15, with a volume of 6,610,061 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on XPEV. The Goldman Sachs Group downgraded shares of XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price target on the stock. in a research note on Thursday, November 21st. UBS Group raised shares of XPeng from a "sell" rating to a "neutral" rating and raised their target price for the company from $8.80 to $18.00 in a research note on Monday, February 24th. Sanford C. Bernstein raised their target price on shares of XPeng from $9.00 to $14.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. China Renaissance raised shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 target price on the stock in a research note on Friday, November 22nd. Finally, Macquarie reissued a "neutral" rating and issued a $18.00 target price on shares of XPeng in a research note on Friday, February 7th. Four investment analysts have rated the stock with 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, the stock has an average rating of "Moderate Buy" and an average target price of $15.63.

XPeng Stock Performance

The stock's fifty day moving average is $17.22 and its two-hundred day moving average is $13.53. The firm has a market capitalization of $22.34 billion, a price-to-earnings ratio of -27.26 and a beta of 2.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

Institutional Investors Weigh In On XPeng

A number of large investors have recently added to or reduced their stakes in the company. Central Asset Investments & Management Holdings HK Ltd grew its holdings in 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 worth $4,969,000 after acquiring an additional 108,000 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in XPeng by 48.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company's stock worth $604,000 after acquiring an additional 16,289 shares in the last quarter. Citigroup Inc. grew its holdings in XPeng by 14.2% during the 3rd quarter. Citigroup Inc. now owns 293,321 shares of the company's stock worth $3,573,000 after acquiring an additional 36,560 shares in the last quarter. FMR LLC grew its holdings in XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company's stock worth $3,941,000 after acquiring an additional 295,536 shares in the last quarter. Finally, Flow Traders U.S. LLC acquired a new position in XPeng during the 3rd quarter worth $360,000. 21.09% of the stock is 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.