XPeng (NYSE:XPEV) Shares Gap Up to $12.72

XPeng Inc. (NYSE:XPEV - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $12.72, but opened at $13.66. XPeng shares last traded at $13.31, with a volume of 11,187,930 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Macquarie raised shares of XPeng from a "neutral" rating to an "outperform" rating in a research report on Friday, August 30th. Citigroup cut their price objective on XPeng from $8.30 to $7.60 and set a "neutral" rating for the company in a research report on Wednesday, August 21st. JPMorgan Chase & Co. upgraded XPeng from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Finally, Bank of America reduced their target price on XPeng from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $9.42.

XPeng Stock Down 4.6 %

The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $11.44 billion, a PE ratio of -8.59 and a beta of 2.75. The stock's fifty day moving average is $8.23 and its two-hundred day moving average is $8.13.

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

Hedge Funds Weigh In On XPeng

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Natixis purchased a new stake in XPeng during the first quarter valued at about $38,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in XPeng by 122.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company's stock worth $39,000 after buying an additional 2,920 shares in the last quarter. Scarborough Advisors LLC bought a new position in XPeng during the fourth quarter valued at approximately $52,000. Blue Trust Inc. raised its stake in shares of XPeng by 2,615.9% during 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 bought a new position in shares of XPeng during the 2nd quarter valued at $78,000. Hedge funds and other 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.

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