XPeng (NYSE:XPEV) Shares Gap Up - Should You Buy?

XPeng Inc. (NYSE:XPEV - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $11.81, but opened at $12.88. XPeng shares last traded at $13.00, with a volume of 2,916,721 shares trading hands.

Analyst Ratings Changes

Several analysts have commented on the stock. UBS Group reiterated a "sell" rating and issued a $8.80 price target (up previously from $8.20) on shares of XPeng in a research note on Thursday, December 5th. Sanford C. Bernstein boosted their target price on XPeng from $9.00 to $14.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th. Citigroup cut their price target on XPeng from $14.60 to $13.70 and set a "neutral" rating for the company in a report on Wednesday, November 20th. China Renaissance raised XPeng from a "hold" rating to a "buy" rating and set a $16.70 price objective on the stock in a report on Friday, November 22nd. Finally, The Goldman Sachs Group downgraded XPeng from a "buy" rating to a "neutral" rating and set a $12.50 target price for the company. in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.69.

XPeng Stock Up 6.6 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The company has a fifty day moving average of $12.61 and a two-hundred day moving average of $10.41. The company has a market cap of $11.86 billion, a PE ratio of -14.47 and a beta of 2.74.

Institutional Investors Weigh In On XPeng

Several hedge funds and other institutional investors have recently modified their holdings of XPEV. Allspring Global Investments Holdings LLC purchased a new stake in shares of XPeng during the third quarter valued at $45,000. Venturi Wealth Management LLC bought a new position in XPeng in the 3rd quarter worth about $110,000. Atomi Financial Group Inc. purchased a new position in shares of XPeng during the third quarter worth approximately $129,000. Sequoia Financial Advisors LLC raised its stake in shares of XPeng by 24.3% during the third quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company's stock valued at $163,000 after acquiring an additional 2,609 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV purchased a new stake in shares of XPeng in the third quarter valued at approximately $172,000. 21.09% of the stock is currently owned by hedge funds and other institutional investors.

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.