XPeng (NYSE:XPEV) Shares Up 10.8% - Here's Why

Key Points

• shares surged by 10.8% during trading on Thursday, reaching a high of $24.60, with a significant trading volume increase of about 18% compared to the average daily volume.
• Analysts have varied ratings on XPeng, with two giving a Strong Buy rating and an average price target of $23.85, while others have issued neutral and sell ratings.
• A notable increase in institutional ownership was observed, with firms like Atlas Capital Advisors raising their investment in XPeng by 651% in the last quarter.

XPeng Inc. Sponsored ADR (NYSE:XPEV - Get Free Report)'s stock price was up 10.8% during trading on Thursday . The stock traded as high as $24.60 and last traded at $24.1480. Approximately 10,996,933 shares were traded during trading, an increase of 18% from the average daily volume of 9,356,957 shares. The stock had previously closed at $21.79.

Analyst Ratings Changes

Several equities research analysts have weighed in on XPEV shares. BNP Paribas Exane assumed coverage on shares of XPeng in a report on Monday, August 18th. They issued a "neutral" rating and a $19.00 target price on the stock. Bank of America lifted their target price on XPeng from $25.00 to $26.00 and gave the company a "buy" rating in a research report on Tuesday, August 19th. BNP Paribas began coverage on XPeng in a research note on Monday, August 18th. They issued a "hold" rating for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of XPeng in a research note on Wednesday, October 8th. Finally, Macquarie increased their price target on shares of XPeng from $24.00 to $25.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.85.

XPeng Stock Performance

The stock has a fifty day simple moving average of $21.90 and a two-hundred day simple moving average of $20.34. The stock has a market cap of $23.59 billion, a price-to-earnings ratio of -39.42 and a beta of 2.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.14.

Institutional Investors Weigh In On XPeng

A number of large investors have recently modified their holdings of the business. Atlas Capital Advisors Inc. raised its position in XPeng by 651.0% during the 1st quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company's stock worth $31,000 after purchasing an additional 1,302 shares during the last quarter. SVB Wealth LLC bought a new position in XPeng during the 1st quarter worth $46,000. Bayforest Capital Ltd raised its position in XPeng by 145.5% during the 1st quarter. Bayforest Capital Ltd now owns 2,283 shares of the company's stock worth $47,000 after purchasing an additional 1,353 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in XPeng during the 1st quarter worth $54,000. Finally, Brooklyn Investment Group raised its position in XPeng by 1,953.6% during the 1st quarter. Brooklyn Investment Group now owns 4,251 shares of the company's stock worth $88,000 after purchasing an additional 4,044 shares during the last quarter. Institutional investors and hedge funds own 21.09% of the company's stock.

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.

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