XPeng (NYSE:XPEV) Shares Gap Up - What's Next?

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 changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on XPEV shares. 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 report on Friday, November 22nd. Citigroup cut their price target on XPeng from $14.60 to $13.70 and set a "neutral" rating on the stock in a report on Wednesday, November 20th. The Goldman Sachs Group downgraded XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price objective for the company. in a research note on Thursday, November 21st. UBS Group reiterated a "sell" rating and issued a $8.80 target price (up from $8.20) on shares of XPeng in a research note on Thursday, December 5th. Finally, Sanford C. Bernstein boosted their price target on shares of XPeng from $9.00 to $14.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $11.69.

XPeng Trading Down 2.7 %

The firm has a market capitalization of $15.58 billion, a P/E ratio of -19.01 and a beta of 2.77. The business's 50 day moving average is $13.16 and its two-hundred day moving average is $11.14. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new stake in XPeng in the 3rd quarter valued at about $6,233,000. FMR LLC lifted its stake in XPeng by 1,053.8% during the third quarter. FMR LLC now owns 323,581 shares of the company's stock valued at $3,941,000 after purchasing an additional 295,536 shares during the last quarter. TMT General Partner Ltd bought a new stake in XPeng during the fourth quarter worth approximately $205,501,000. Point72 Hong Kong Ltd acquired a new position in XPeng in the third quarter worth approximately $22,047,000. Finally, Central Asset Investments & Management Holdings HK Ltd grew its position in 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 buying an additional 108,000 shares during the last quarter. Institutional investors and hedge funds 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.