XPeng (NYSE:XPEV) Shares Gap Up - What's Next?

XPeng Inc. (NYSE:XPEV - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $10.22, but opened at $10.94. XPeng shares last traded at $10.86, with a volume of 3,899,700 shares traded.

Wall Street Analyst Weigh In

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

XPeng Stock Performance

The company's 50-day moving average price is $9.52 and its 200 day moving average price is $8.48. The stock has a market capitalization of $9.88 billion, a PE ratio of -7.09 and a beta of 2.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50.

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

Hedge Funds Weigh In On XPeng

A number of institutional investors have recently added to or reduced their stakes in XPEV. Sei Investments Co. lifted its holdings in shares of XPeng by 83.0% during the first quarter. Sei Investments Co. now owns 129,400 shares of the company's stock valued at $994,000 after purchasing an additional 58,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in XPeng by 35.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company's stock valued at $7,516,000 after buying an additional 257,300 shares during the last quarter. Van ECK Associates Corp boosted its holdings in XPeng by 17.6% in the first quarter. Van ECK Associates Corp now owns 232,428 shares of the company's stock worth $1,785,000 after acquiring an additional 34,788 shares in the last quarter. Natixis purchased a new stake in shares of XPeng in the first quarter worth $38,000. Finally, Renaissance Technologies LLC bought a new position in shares of XPeng during the second quarter valued at $1,006,000. Institutional investors own 23.05% of the company's stock.

About XPeng

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.