XPeng (NYSE:XPEV) Shares Up 5% – What’s Next?

XPeng Inc. (NYSE:XPEV) shares traded up 5% during trading on Thursday . The company traded as high as $22.50 and last traded at $22.74. 3,985,205 shares were traded during trading, a decline of 70% from the average session volume of 13,073,328 shares. The stock had previously closed at $21.66.

Analyst Ratings Changes

Several equities research analysts recently weighed in on XPEV shares. Citigroup reduced their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Sanford C. Bernstein boosted their price objective on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. UBS Group raised shares of XPeng from a “sell” rating to a “neutral” rating and increased their target price for the company from $8.80 to $18.00 in a research note on Monday, February 24th. 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 report on Friday, November 22nd. Finally, Macquarie restated a “neutral” rating and issued a $18.00 target price on shares of XPeng in a report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.93.

XPeng Trading Up 2.5 %

The company has a market cap of $20.92 billion, a P/E ratio of -25.61 and a beta of 2.68. The business’s 50-day moving average price is $15.54 and its 200 day moving average price is $12.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in XPEV. Creative Planning boosted its position in XPeng by 20.3% during the third quarter. Creative Planning now owns 39,725 shares of the company’s stock worth $484,000 after purchasing an additional 6,704 shares during the period. US Bancorp DE lifted its stake in shares of XPeng by 6.3% during the 3rd quarter. US Bancorp DE now owns 73,957 shares of the company’s stock worth $901,000 after buying an additional 4,412 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of XPeng by 4.8% during the 3rd quarter. Van ECK Associates Corp now owns 222,337 shares of the company’s stock worth $2,481,000 after buying an additional 10,148 shares during the period. Venturi Wealth Management LLC acquired a new position in XPeng in the 3rd quarter valued at about $110,000. Finally, Central Asset Investments & Management Holdings HK Ltd raised its holdings in XPeng by 36.0% in the 3rd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock valued at $4,969,000 after acquiring an additional 108,000 shares during the period. 21.09% of the stock is currently owned by institutional investors.

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.