XPeng (NYSE:XPEV) Shares Gap Up - Time to 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 $14.13, but opened at $14.92. XPeng shares last traded at $14.79, with a volume of 3,369,079 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Sanford C. Bernstein upped their price target on shares of XPeng from $9.00 to $14.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th. UBS Group reiterated a "sell" rating and issued a $8.80 target price (up previously from $8.20) on shares of XPeng in a research note on Thursday, December 5th. The Goldman Sachs Group lowered XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price target on the stock. in a research report on Thursday, November 21st. Citigroup decreased 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. Finally, China Renaissance upgraded shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 price objective on the stock in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $11.69.

XPeng Price Performance

The business's 50-day moving average price is $12.63 and its two-hundred day moving average price is $10.69. The firm has a market cap of $13.68 billion, a price-to-earnings ratio of -16.70 and a beta of 2.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

Institutional Trading of XPeng

Several institutional investors and hedge funds have recently bought and sold shares of the company. TMT General Partner Ltd bought a new position in XPeng during the fourth quarter worth $205,501,000. Bank of Montreal Can lifted its position in shares of XPeng by 212.1% in the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company's stock worth $31,910,000 after buying an additional 2,724,549 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of XPeng in the 3rd quarter valued at about $22,047,000. Point72 Europe London LLP bought a new stake in shares of XPeng during the 2nd quarter valued at about $5,923,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in XPeng during the third quarter worth about $6,233,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.