XPeng (NYSE:XPEV) Trading 8.8% Higher – Should You Buy?

XPeng Inc. (NYSE:XPEV)’s share price shot up 8.8% during mid-day trading on Monday . The company traded as high as $13.16 and last traded at $13.11. 4,605,964 shares traded hands during trading, a decline of 66% from the average session volume of 13,625,136 shares. The stock had previously closed at $12.05.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. China Renaissance upgraded shares of 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. Citigroup cut their target price on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Sanford C. Bernstein lifted their price objective on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group downgraded shares of 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. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.05.

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 company’s 50 day moving average price is $12.18 and its 200-day moving average price is $9.49.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of XPeng by 122.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock worth $39,000 after purchasing an additional 2,920 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of XPeng in the third quarter worth about $45,000. Blue Trust Inc. increased its position in shares of XPeng by 2,615.9% in the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock worth $75,000 after acquiring an additional 9,391 shares in the last quarter. 180 Wealth Advisors LLC purchased a new position in shares of XPeng in the second quarter worth approximately $78,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of XPeng during the third quarter valued at approximately $110,000. 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.