XPeng (NYSE:XPEV) Shares Gap Up - Still a Buy?

XPeng Inc. (NYSE:XPEV - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $15.69, but opened at $16.54. XPeng shares last traded at $16.92, with a volume of 5,095,052 shares trading hands.

Analyst Ratings Changes

XPEV has been the subject of several recent analyst reports. Citigroup reduced their target price on shares of XPeng from $14.60 to $13.70 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. Macquarie reiterated a "neutral" rating and issued a $18.00 price objective on shares of XPeng in a research note on Friday. China Renaissance raised shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 target price on the stock in a research report on Friday, November 22nd. UBS Group reaffirmed a "sell" rating and set a $8.80 price target (up from $8.20) on shares of XPeng in a research report on Thursday, December 5th. Finally, The Goldman Sachs Group cut XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price objective on the stock. in a research report on Thursday, November 21st. One research 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $12.91.

XPeng Stock Down 1.7 %

The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock has a 50-day simple moving average of $13.46 and a 200-day simple moving average of $11.32. The firm has a market capitalization of $15.67 billion, a PE ratio of -19.12 and a beta of 2.77.

Institutional Investors Weigh In On XPeng

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

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.