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

XPeng Inc. (NYSE:XPEV - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $22.95, but opened at $25.25. XPeng shares last traded at $26.15, with a volume of 6,610,061 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on XPEV. UBS Group upgraded XPeng from a "sell" rating to a "neutral" rating and increased their price objective for the company from $8.80 to $18.00 in a research note on Monday, February 24th. Sanford C. Bernstein raised their price target on XPeng from $9.00 to $14.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. Citigroup upgraded XPeng from a "neutral" rating to a "buy" rating and raised their price target for the company from $13.70 to $29.00 in a research note on Monday. China Renaissance upgraded XPeng from a "hold" rating to a "buy" rating and set a $16.70 price target on the stock in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group cut XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price target on the stock. in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, XPeng has a consensus rating of "Moderate Buy" and a consensus price target of $15.63.

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 stock has a fifty day moving average of $16.70 and a 200-day moving average of $13.29. The stock has a market cap of $23.27 billion, a PE ratio of -28.39 and a beta of 2.68.

Institutional Investors Weigh In On XPeng

A number of institutional investors have recently added to or reduced their stakes in the business. Alibaba Group Holding Ltd boosted its holdings in XPeng by 21.2% in the 4th quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company's stock valued at $448,678,000 after purchasing an additional 6,650,000 shares in the last quarter. TMT General Partner Ltd purchased a new stake in shares of XPeng during the 4th quarter worth approximately $205,501,000. JPMorgan Chase & Co. grew its holdings in XPeng by 1,138.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company's stock valued at $54,354,000 after purchasing an additional 4,227,055 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of XPeng in the third quarter valued at $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of XPeng by 947.5% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company's stock valued at $20,800,000 after buying an additional 1,591,750 shares in the last quarter. Hedge funds and other institutional investors own 21.09% of the company's stock.

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.

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