XPeng (NYSE:XPEV) Shares Up 4.3%

XPeng Inc. (NYSE:XPEV - Get Free Report) shares were up 4.3% on Wednesday . The stock traded as high as $9.13 and last traded at $9.13. Approximately 1,604,941 shares were traded during trading, a decline of 88% from the average daily volume of 12,928,262 shares. The stock had previously closed at $8.75.

Wall Street Analysts Forecast Growth

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

XPeng Stock Up 4.5 %

The company's 50-day moving average price is $7.84 and its 200 day moving average price is $8.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50. The stock has a market cap of $8.61 billion, a PE ratio of -5.91 and a beta of 2.75.

Institutional Investors Weigh In On XPeng

Hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in XPeng during the fourth quarter valued at $41,993,000. Bank of Montreal Can raised its stake in shares of XPeng by 212.1% in the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company's stock worth $31,910,000 after buying an additional 2,724,549 shares during the period. Electron Capital Partners LLC purchased a new position in shares of XPeng during the 4th quarter valued at about $26,047,000. Primecap Management Co. CA grew its stake in shares of XPeng by 5.6% during the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company's stock valued at $120,369,000 after acquiring an additional 872,160 shares during the period. Finally, Point72 Europe London LLP purchased a new stake in XPeng in the 2nd quarter worth approximately $5,923,000. 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.