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

XPeng Inc. (NYSE:XPEV) gapped up prior to trading on Tuesday . The stock had previously closed at $11.75, but opened at $12.23. XPeng shares last traded at $12.77, with a volume of 3,968,387 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective for the company. in a research report on Thursday, November 21st. Sanford C. Bernstein increased their price target on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Citigroup reduced 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. China Renaissance upgraded shares of 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. Finally, UBS Group reissued a “sell” rating and issued a $8.80 price objective (up from $8.20) on shares of XPeng in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, XPeng has an average rating of “Moderate Buy” and an average price target of $11.69.

XPeng Trading Down 5.2 %

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 firm has a market cap of $11.48 billion, a P/E ratio of -14.01 and a beta of 2.74. The firm’s 50-day simple moving average is $12.58 and its 200 day simple moving average is $10.31.

Hedge Funds Weigh In On XPeng

Several institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in XPeng during the third quarter valued at about $915,000. Y Intercept Hong Kong Ltd bought a new stake in shares of XPeng in the third quarter valued at approximately $6,233,000. Quantinno Capital Management LP lifted its stake in shares of XPeng by 99.2% during the 3rd quarter. Quantinno Capital Management LP now owns 27,153 shares of the company’s stock valued at $331,000 after buying an additional 13,520 shares in the last quarter. Point72 Italy S.r.l. bought a new position in XPeng in the 3rd quarter worth approximately $1,160,000. Finally, Polymer Capital Management HK LTD bought a new stake in XPeng during the 3rd quarter valued at $487,000. Hedge funds and other institutional investors 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.