XPeng (NYSE:XPEV) Sees Large Volume Increase - Still a Buy?

Shares of XPeng Inc. (NYSE:XPEV - Get Free Report) saw strong trading volume on Monday . 6,070,821 shares were traded during mid-day trading, a decline of 55% from the previous session's volume of 13,407,901 shares.The stock last traded at $12.13 and had previously closed at $12.90.

Wall Street Analysts Forecast Growth

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

XPeng Trading Down 9.8 %

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 firm has a fifty day moving average price of $9.14 and a 200 day moving average price of $8.38. The company has a market cap of $10.96 billion, a price-to-earnings ratio of -7.89 and a beta of 2.79.

XPeng (NYSE:XPEV - Get Free Report) last announced its quarterly 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 for the quarter. As a group, equities analysts predict that XPeng Inc. will post -0.95 EPS for the current fiscal year.

Hedge Funds Weigh In On XPeng

Several institutional investors and hedge funds have recently modified their holdings of XPEV. Natixis acquired a new stake in XPeng during the 1st quarter worth approximately $38,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of XPeng by 122.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company's stock valued at $39,000 after acquiring an additional 2,920 shares in the last quarter. Scarborough Advisors LLC bought a new position in XPeng during the fourth quarter worth about $52,000. Blue Trust Inc. increased its position in 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 during the period. Finally, 180 Wealth Advisors LLC acquired a new stake in XPeng in the 2nd quarter worth about $78,000. 23.05% of the stock is currently owned by institutional investors and hedge funds.

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.