XPeng (NYSE:XPEV) Sets New 1-Year High - Here's Why

XPeng Inc. (NYSE:XPEV - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as $17.30 and last traded at $16.99, with a volume of 15913955 shares traded. The stock had previously closed at $15.69.

Analyst Ratings Changes

A number of research firms recently commented on XPEV. China Renaissance upgraded shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 price objective on the stock in a research note on Friday, November 22nd. Sanford C. Bernstein upped their price objective on XPeng from $9.00 to $14.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. Citigroup lowered their target price on XPeng from $14.60 to $13.70 and set a "neutral" rating on the stock in a report on Wednesday, November 20th. UBS Group reissued a "sell" rating and issued a $8.80 price target (up from $8.20) on shares of XPeng in a report on Thursday, December 5th. Finally, The Goldman Sachs Group cut shares of XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price objective on the stock. in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, XPeng presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.91.

XPeng Stock Performance

The firm's fifty day simple moving average is $13.46 and its 200 day simple moving average is $11.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The company has a market capitalization of $15.92 billion, a price-to-earnings ratio of -19.43 and a beta of 2.77.

Hedge Funds Weigh In On XPeng

Several institutional investors and hedge funds have recently added to or reduced their stakes in XPEV. TMT General Partner Ltd purchased a new position in shares of XPeng during the fourth quarter valued at $205,501,000. Point72 Hong Kong Ltd purchased a new position in XPeng during the 3rd quarter valued at about $22,047,000. Y Intercept Hong Kong Ltd acquired a new position in shares of XPeng in the 3rd quarter valued at about $6,233,000. FMR LLC lifted its position in shares of XPeng by 1,053.8% in the third quarter. FMR LLC now owns 323,581 shares of the company's stock worth $3,941,000 after purchasing an additional 295,536 shares in the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd boosted its holdings in shares of XPeng by 36.0% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company's stock worth $4,969,000 after purchasing an additional 108,000 shares during the period. 21.09% of the stock is currently owned by hedge funds and other institutional investors.

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.