XPeng (NYSE:XPEV) Shares Gap Up - Here's What Happened

XPeng Inc. (NYSE:XPEV - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $19.70, but opened at $20.22. XPeng shares last traded at $20.62, with a volume of 2,107,798 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays increased their price target on XPeng from $7.00 to $20.00 and gave the company an "underweight" rating in a research report on Thursday, March 20th. Nomura Securities upgraded shares of XPeng to a "strong-buy" rating in a research note on Tuesday, March 18th. Macquarie reiterated a "neutral" rating and set a $18.00 price target on shares of XPeng in a report on Friday, February 7th. Daiwa Capital Markets reaffirmed a "neutral" rating and set a $24.00 price objective on shares of XPeng in a research report on Wednesday, March 19th. Finally, Nomura upgraded shares of XPeng from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $14.00 to $30.00 in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $22.20.

XPeng Stock Performance

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 firm has a 50-day simple moving average of $19.43 and a 200 day simple moving average of $14.73. The company has a market cap of $19.88 billion, a price-to-earnings ratio of -24.26 and a beta of 2.68.

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XPeng (NYSE:XPEV - Get Free Report) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($1.36) by $1.17. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $16.11 billion. On average, sell-side analysts predict that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of XPeng

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of XPeng by 55.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company's stock worth $30,000 after purchasing an additional 898 shares during the period. Avior Wealth Management LLC raised its position in XPeng by 1,215.2% during the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company's stock worth $33,000 after buying an additional 2,564 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of XPeng by 50.7% in the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company's stock worth $40,000 after acquiring an additional 1,138 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of XPeng in the fourth quarter valued at about $41,000. Finally, Natixis acquired a new position in shares of XPeng during the fourth quarter worth about $43,000. 21.09% 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.