XPeng (NYSE:XPEV) Trading Up 8.7% - Here's Why

XPeng Inc. (NYSE:XPEV - Get Free Report)'s share price shot up 8.7% during mid-day trading on Friday . The company traded as high as $19.29 and last traded at $19.24. 4,158,585 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 10,505,959 shares. The stock had previously closed at $17.70.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Macquarie reaffirmed a "neutral" rating and set a $18.00 price target on shares of XPeng in a report on Friday, February 7th. China Renaissance upgraded XPeng from a "hold" rating to a "buy" rating and set a $16.70 price target for the company in a research note on Friday, November 22nd. The Goldman Sachs Group lowered shares of XPeng from a "buy" rating to a "neutral" rating and set a $12.50 target price for the company. in a research report on Thursday, November 21st. UBS Group raised shares of XPeng from a "sell" rating to a "neutral" rating and increased their price objective for the company from $8.80 to $18.00 in a report on Monday. Finally, Sanford C. Bernstein raised their price target on XPeng from $9.00 to $14.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, XPeng has a consensus rating of "Moderate Buy" and a consensus target price of $13.93.

XPeng Price Performance

The firm has a market capitalization of $20.69 billion, a PE ratio of -25.19 and a beta of 2.77. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $14.51 and a two-hundred day moving average price of $12.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in XPeng by 14.2% during the 4th quarter. Van ECK Associates Corp now owns 253,875 shares of the company's stock valued at $3,001,000 after purchasing an additional 31,538 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in XPeng in the 3rd quarter valued at approximately $6,233,000. FMR LLC lifted its holdings in XPeng by 1,053.8% in the third quarter. FMR LLC now owns 323,581 shares of the company's stock worth $3,941,000 after purchasing an additional 295,536 shares during the period. Savant Capital LLC acquired a new position in XPeng during the fourth quarter worth about $229,000. Finally, TMT General Partner Ltd purchased a new stake in XPeng during the fourth quarter valued at about $205,501,000. 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.