XPeng (NYSE:XPEV) Shares Gap Up to $8.92

XPeng Inc. (NYSE:XPEV - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $8.92, but opened at $9.16. XPeng shares last traded at $9.42, with a volume of 1,881,940 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on XPEV shares. Daiwa America upgraded shares of XPeng to a "strong-buy" rating in a research note on Thursday, May 23rd. Bank of America decreased their target price on shares of XPeng from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, August 21st. Macquarie upgraded XPeng from a "neutral" rating to an "outperform" rating in a research note on Friday, August 30th. JPMorgan Chase & Co. upgraded XPeng from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $8.00 to $11.50 in a research report on Thursday, September 5th. Finally, Daiwa Capital Markets raised XPeng from a "neutral" rating to a "buy" rating and set a $11.00 target price for the company in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $12.08.

XPeng Price Performance

The stock has a market cap of $8.53 billion, a P/E ratio of -6.12 and a beta of 2.75. The business has a 50-day simple moving average of $7.94 and a 200 day simple moving average of $8.09. The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV - Get Free Report) last released its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. The firm had revenue of $1.12 billion for the quarter. On average, analysts forecast that XPeng Inc. will post -0.95 earnings per share for the current year.

Hedge Funds Weigh In On XPeng

Hedge funds have recently bought and sold shares of the company. Natixis acquired a new position in shares of XPeng during the 1st quarter valued at $38,000. Harel Insurance Investments & Financial Services Ltd. increased its position in XPeng by 122.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company's stock valued at $39,000 after buying an additional 2,920 shares in the last quarter. Scarborough Advisors LLC acquired a new position in XPeng during the 4th quarter worth approximately $52,000. Blue Trust Inc. boosted its holdings in XPeng by 2,615.9% in the second quarter. Blue Trust Inc. now owns 9,750 shares of the company's stock worth $75,000 after acquiring an additional 9,391 shares in the last quarter. Finally, 180 Wealth Advisors LLC acquired a new stake in XPeng in the second quarter valued at approximately $78,000. Institutional investors own 23.05% 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.