XPeng (NYSE:XPEV) Trading 6.4% Higher - Here's What Happened

XPeng Inc. (NYSE:XPEV - Get Free Report)'s share price rose 6.4% during trading on Monday . The stock traded as high as $16.02 and last traded at $16.20. Approximately 6,145,231 shares changed hands during trading, a decline of 38% from the average daily volume of 9,865,255 shares. The stock had previously closed at $15.22.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lowered XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price objective for the company. in a report on Thursday, November 21st. Sanford C. Bernstein lifted their price target on 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 reaffirmed a "sell" rating and issued a $8.80 target price (up previously from $8.20) on shares of XPeng in a report on Thursday, December 5th. Citigroup reduced their price target on XPeng from $14.60 to $13.70 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. Finally, Macquarie reaffirmed a "neutral" rating and issued a $18.00 target price on shares of XPeng in a research report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $12.91.

XPeng Trading Down 1.1 %

The company has a market capitalization of $15.92 billion, a P/E ratio of -19.43 and a beta of 2.77. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The firm has a fifty day moving average price of $13.46 and a 200-day moving average price of $11.30.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. TMT General Partner Ltd purchased a new position in shares of XPeng in the 4th quarter valued at approximately $205,501,000. Point72 Hong Kong Ltd bought a new position in XPeng during the third quarter valued at $22,047,000. Y Intercept Hong Kong Ltd bought a new position in XPeng in the 3rd quarter worth about $6,233,000. FMR LLC lifted its holdings in XPeng by 1,053.8% during the third quarter. FMR LLC now owns 323,581 shares of the company's stock worth $3,941,000 after buying an additional 295,536 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd grew its stake in XPeng by 36.0% during the 3rd 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. 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.