XPeng (NYSE:XPEV) Sees Strong Trading Volume

XPeng Inc. (NYSE:XPEV) shares saw unusually-strong trading volume on Wednesday . Approximately 8,752,733 shares traded hands during mid-day trading, a decline of 32% from the previous session’s volume of 12,926,719 shares.The stock last traded at $7.19 and had previously closed at $8.00.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on XPEV shares. Daiwa Capital Markets raised XPeng from a “neutral” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Thursday, May 23rd. Citigroup lowered their target price on XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. Bank of America reduced their price target on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. JPMorgan Chase & Co. decreased their price target on XPeng from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. Finally, Daiwa America raised XPeng to a “strong-buy” rating in a report on Thursday, May 23rd. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, XPeng presently has a consensus rating of “Moderate Buy” and an average price target of $11.50.

XPeng Stock Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50. The company’s 50-day moving average price is $7.73 and its two-hundred day moving average price is $8.16. The stock has a market cap of $6.86 billion, a PE ratio of -5.00 and a beta of 2.76.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of XPEV. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in XPeng by 25.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,550 shares of the company’s stock valued at $154,000 after purchasing an additional 2,151 shares in the last quarter. Russell Investments Group Ltd. lifted its position in XPeng by 9,123.0% during the fourth quarter. Russell Investments Group Ltd. now owns 815,131 shares of the company’s stock valued at $11,893,000 after purchasing an additional 806,293 shares during the period. Van ECK Associates Corp boosted its stake in shares of XPeng by 0.8% during the 4th quarter. Van ECK Associates Corp now owns 197,640 shares of the company’s stock worth $2,884,000 after acquiring an additional 1,523 shares in the last quarter. Segantii Capital Management Ltd lifted its holdings in XPeng by 155.6% during the fourth quarter. Segantii Capital Management Ltd now owns 1,150,000 shares of the company’s stock valued at $16,701,000 after purchasing an additional 700,000 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of XPeng in the fourth quarter valued at about $326,000. Hedge funds and other institutional investors own 23.05% 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.