XPeng (NYSE:XPEV) Trading Up 7.9% – Here’s What Happened

Shares of XPeng Inc. Sponsored ADR (NYSE:XPEV) were up 7.9% during trading on Tuesday . The stock traded as high as $24.74 and last traded at $24.88. Approximately 2,558,718 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 9,846,307 shares. The stock had previously closed at $23.07.

Analyst Ratings Changes

XPEV has been the topic of a number of recent analyst reports. BNP Paribas started coverage on shares of XPeng in a report on Monday, August 18th. They set a “hold” rating on the stock. The Goldman Sachs Group raised shares of XPeng from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.40 to $24.00 in a report on Tuesday, June 17th. Bank of America increased their price target on shares of XPeng from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 19th. Morgan Stanley set a $28.00 price target on shares of XPeng and gave the stock an “overweight” rating in a report on Thursday, June 12th. Finally, Macquarie boosted their target price on shares of XPeng from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.85.

XPeng Trading Up 5.7%

The stock has a market capitalization of $23.14 billion, a price-to-earnings ratio of -38.67 and a beta of 2.50. The company’s 50-day moving average is $19.07 and its 200-day moving average is $19.65. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in XPeng by 70.1% in the first quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company’s stock valued at $27,000 after acquiring an additional 532 shares in the last quarter. Atlas Capital Advisors Inc. raised 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 in the last quarter. Garde Capital Inc. acquired a new stake in XPeng in the first quarter valued at approximately $39,000. SVB Wealth LLC acquired a new stake in XPeng in the first quarter valued at approximately $46,000. Finally, Bayforest Capital Ltd raised its holdings in XPeng by 145.5% in the first quarter. Bayforest Capital Ltd now owns 2,283 shares of the company’s stock valued at $47,000 after acquiring an additional 1,353 shares in the last quarter. Hedge funds and other institutional investors 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.