XPeng (NYSE:XPEV) Shares Gap Up - Time to Buy?

XPeng Inc. (NYSE:XPEV - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $11.52, but opened at $12.18. XPeng shares last traded at $12.25, with a volume of 4,054,916 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on XPEV. Macquarie raised XPeng from a "neutral" rating to an "outperform" rating in a report on Friday, August 30th. Citigroup decreased their price target on shares of XPeng from $8.30 to $7.60 and set a "neutral" rating on the stock in a research note on Wednesday, August 21st. Bank of America cut their price objective on shares of XPeng from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. upgraded shares of XPeng from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $8.00 to $11.50 in a research report on Thursday, September 5th. One investment 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, XPeng currently has an average rating of "Buy" and a consensus target price of $9.42.

XPeng Price Performance

The company has a market cap of $11.37 billion, a PE ratio of -9.89 and a beta of 2.80. The firm's 50-day moving average is $10.39 and its 200-day moving average is $8.75. The company has a quick ratio of 1.31, a current ratio of 1.50 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 return on equity of 23.38% and a negative net margin of 21.64%. The business had revenue of $1.12 billion during the quarter. On average, equities analysts anticipate that XPeng Inc. will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA boosted its stake in shares of XPeng by 5.6% in the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company's stock worth $120,369,000 after buying an additional 872,160 shares during the last quarter. Bank of Montreal Can grew its stake in shares of XPeng by 212.1% during the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company's stock valued at $31,910,000 after purchasing an additional 2,724,549 shares during the period. Russell Investments Group Ltd. increased its stake in shares of XPeng by 73.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,415,568 shares of the company's stock worth $10,872,000 after purchasing an additional 600,437 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of XPeng by 100.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company's stock valued at $8,864,000 after buying an additional 550,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of XPeng by 35.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company's stock worth $7,516,000 after purchasing an additional 257,300 shares during the period. 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.