XPeng (NYSE:XPEV) Hits New 52-Week High – Still a Buy?

XPeng Inc. (NYSE:XPEV) shares reached a new 52-week high on Wednesday . The company traded as high as $18.26 and last traded at $17.97, with a volume of 2173821 shares traded. The stock had previously closed at $17.48.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Macquarie restated a “neutral” rating and set a $18.00 target price on shares of XPeng in a report on Friday, February 7th. UBS Group restated a “sell” rating and set a $8.80 price target (up from $8.20) on shares of XPeng in a research report on Thursday, December 5th. Citigroup cut their target price on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target on the stock in a report on Friday, November 22nd. Finally, Sanford C. Bernstein lifted their price objective on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.91.

XPeng Stock Performance

The stock’s 50 day moving average price is $14.15 and its two-hundred day moving average price is $11.82. The firm has a market capitalization of $17.34 billion, a PE ratio of -21.15 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.

Institutional Trading of XPeng

A number of large investors have recently made changes to their positions in the stock. Creative Planning grew its holdings in shares of XPeng by 20.3% during the third quarter. Creative Planning now owns 39,725 shares of the company’s stock worth $484,000 after buying an additional 6,704 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in XPeng during the third quarter worth approximately $45,000. Sequoia Financial Advisors LLC grew its stake in XPeng by 24.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company’s stock worth $163,000 after acquiring an additional 2,609 shares during the period. Greenleaf Trust raised its holdings in XPeng by 16.2% in the 3rd quarter. Greenleaf Trust now owns 16,068 shares of the company’s stock valued at $196,000 after acquiring an additional 2,243 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in shares of XPeng by 32.8% during the 3rd quarter. Ballentine Partners LLC now owns 17,542 shares of the company’s stock worth $214,000 after purchasing an additional 4,335 shares during the period. Institutional investors and hedge funds 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.