XPeng (NYSE:XPEV) Shares Up 5.2% After Strong Earnings

Key Points

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XPeng Inc. Sponsored ADR (NYSE:XPEV - Get Free Report)'s stock price shot up 5.2% during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $20.62 and last traded at $20.93. 6,726,621 shares were traded during mid-day trading, a decline of 30% from the average session volume of 9,645,346 shares. The stock had previously closed at $19.90.

The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($1.23) by $1.16. XPeng had a negative net margin of 10.20% and a negative return on equity of 15.89%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Macquarie reiterated an "outperform" rating and issued a $25.00 target price (up from $24.00) on shares of XPeng in a report on Friday. BNP Paribas Exane assumed coverage on XPeng in a research note on Monday. They set a "neutral" rating and a $19.00 price objective on the stock. The Goldman Sachs Group upgraded XPeng from a "neutral" rating to a "buy" rating and raised their price objective for the company from $16.40 to $24.00 in a research note on Tuesday, June 17th. Morgan Stanley set a $28.00 price objective on XPeng and gave the company an "overweight" rating in a research note on Thursday, June 12th. Finally, BNP Paribas assumed coverage on shares of XPeng in a report on Monday. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.90.

Institutional Investors Weigh In On XPeng

A number of institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in shares of XPeng by 70.1% during the first quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock valued at $27,000 after buying an additional 532 shares during the last quarter. Atlas Capital Advisors Inc. lifted its holdings in XPeng by 651.0% in the first quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company's stock valued at $31,000 after acquiring an additional 1,302 shares during the period. Garde Capital Inc. bought a new position in XPeng in the first quarter valued at about $39,000. Natixis bought a new position in XPeng in the fourth quarter valued at about $43,000. Finally, SVB Wealth LLC bought a new position in XPeng in the first quarter valued at about $46,000. 21.09% of the stock is owned by hedge funds and other institutional investors.

XPeng Price Performance

The firm has a 50 day moving average price of $18.79 and a 200 day moving average price of $19.46. The company has a quick ratio of 1.07, a current ratio of 1.21 and a debt-to-equity ratio of 0.34. The stock has a market cap of $19.66 billion, a P/E ratio of -27.71 and a beta of 2.50.

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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