XPeng (NYSE:XPEV) Stock Price Up 4.9% - Still a Buy?

XPeng Inc. (NYSE:XPEV - Get Free Report) shares shot up 4.9% during mid-day trading on Tuesday . The stock traded as high as $11.38 and last traded at $11.35. 4,252,691 shares changed hands during trading, a decline of 68% from the average session volume of 13,461,522 shares. The stock had previously closed at $10.82.

Analyst Ratings Changes

Several brokerages recently issued reports on XPEV. Macquarie upgraded XPeng from a "neutral" rating to an "outperform" rating in a research note on Friday, August 30th. Citigroup dropped their target price on XPeng from $8.30 to $7.60 and set a "neutral" rating on the stock in a research report on Wednesday, August 21st. JPMorgan Chase & Co. raised 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 report on Thursday, September 5th. Finally, Bank of America dropped their target price on XPeng from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, XPeng currently has a consensus rating of "Buy" and a consensus price target of $9.42.

XPeng Price Performance

The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of -7.45 and a beta of 2.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31. The company has a 50-day simple moving average of $9.69 and a two-hundred day simple moving average of $8.55.

XPeng (NYSE:XPEV - Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. The business had revenue of $1.12 billion for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. On average, equities research analysts predict that XPeng Inc. will post -0.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Greenleaf Trust boosted its stake in XPeng by 16.2% during the third quarter. Greenleaf Trust now owns 16,068 shares of the company's stock valued at $196,000 after buying an additional 2,243 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in XPeng by 24.3% during the third quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company's stock valued at $163,000 after buying an additional 2,609 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in XPeng during the third quarter valued at about $45,000. Creative Planning boosted its stake in XPeng by 20.3% during the third quarter. Creative Planning now owns 39,725 shares of the company's stock valued at $484,000 after buying an additional 6,704 shares in the last quarter. Finally, Atomi Financial Group Inc. bought a new position in XPeng during the third quarter valued at about $129,000. 23.05% of the stock is owned by institutional investors and hedge funds.

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.