XPeng (NYSE:XPEV) Shares Gap Up – Time to Buy?

XPeng Inc. (NYSE:XPEV) shares gapped up before the market opened on Wednesday . The stock had previously closed at $11.39, but opened at $11.90. XPeng shares last traded at $11.93, with a volume of 2,172,446 shares.

Analyst Ratings Changes

Several research analysts recently commented on XPEV shares. Citigroup lowered their target price on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Bank of America decreased their price target on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a research report on Friday, November 22nd. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Finally, The Goldman Sachs Group lowered XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.05.

XPeng Trading Up 4.6 %

The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $11.22 billion, a PE ratio of -13.69 and a beta of 2.80. The business’s 50-day moving average is $12.02 and its two-hundred day moving average is $9.38.

Institutional Trading of XPeng

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in XPeng during the third quarter worth approximately $915,000. Y Intercept Hong Kong Ltd acquired a new position in shares of XPeng in the 3rd quarter valued at $6,233,000. Quantinno Capital Management LP increased its holdings in shares of XPeng by 99.2% in the 3rd quarter. Quantinno Capital Management LP now owns 27,153 shares of the company’s stock valued at $331,000 after acquiring an additional 13,520 shares during the period. Point72 Italy S.r.l. purchased a new stake in XPeng in the 3rd quarter valued at $1,160,000. Finally, Polymer Capital Management HK LTD purchased a new stake in XPeng in the 3rd quarter valued at $487,000. 23.05% of the stock is owned by hedge funds and other institutional investors.

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.