XPeng (NYSE:XPEV) Reaches New 1-Year High - Still a Buy?

Shares of XPeng Inc. (NYSE:XPEV - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.26 and last traded at $17.97, with a volume of 2173821 shares trading hands. The stock had previously closed at $17.48.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on XPEV shares. Citigroup cut their price objective on shares of XPeng from $14.60 to $13.70 and set a "neutral" rating for the company in a research report on Wednesday, November 20th. Macquarie restated a "neutral" rating and set a $18.00 target price on shares of XPeng in a research note on Friday, February 7th. The Goldman Sachs Group cut shares of XPeng from a "buy" rating to a "neutral" rating and set a $12.50 target price on the stock. in a research note on Thursday, November 21st. China Renaissance upgraded shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 target price on the stock in a research note on Friday, November 22nd. Finally, UBS Group restated a "sell" rating and set a $8.80 target price (up previously from $8.20) on shares of XPeng in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, XPeng currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.91.

XPeng Stock Performance

The firm has a market cap of $17.34 billion, a PE ratio of -21.15 and a beta of 2.77. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The firm's 50 day simple moving average is $14.15 and its 200 day simple moving average is $11.82.

Institutional Trading of XPeng

Several hedge funds have recently bought and sold shares of XPEV. Creative Planning increased its holdings in shares of XPeng by 20.3% in the 3rd quarter. Creative Planning now owns 39,725 shares of the company's stock worth $484,000 after buying an additional 6,704 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of XPeng in the 3rd quarter worth about $45,000. Sequoia Financial Advisors LLC increased its holdings in shares of XPeng by 24.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company's stock worth $163,000 after buying an additional 2,609 shares during the last quarter. Greenleaf Trust increased its holdings in shares of XPeng by 16.2% in the 3rd quarter. Greenleaf Trust now owns 16,068 shares of the company's stock worth $196,000 after buying an additional 2,243 shares during the last quarter. Finally, Ballentine Partners LLC increased its holdings in shares of XPeng by 32.8% in the 3rd quarter. Ballentine Partners LLC now owns 17,542 shares of the company's stock worth $214,000 after buying an additional 4,335 shares during the last quarter. Hedge funds and other institutional investors own 21.09% 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.