XPeng (NYSE:XPEV) Shares Gap Up – Still a Buy?

XPeng Inc. (NYSE:XPEV) gapped up prior to trading 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 traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on XPEV shares. Citigroup decreased their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target for the company in a report on Friday, November 22nd. Sanford C. Bernstein boosted their price objective on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. UBS Group reaffirmed a “sell” rating and set a $8.80 target price (up previously from $8.20) on shares of XPeng in a research note on Thursday, December 5th. Finally, 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 note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.69.

XPeng Trading Up 3.0 %

The business has a fifty day moving average of $12.61 and a 200-day moving average of $10.45. 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 Investors Weigh In On XPeng

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in XPeng during the 3rd quarter valued at about $45,000. Venturi Wealth Management LLC purchased a new position in shares of XPeng during the third quarter valued at approximately $110,000. Susquehanna International Securities Ltd. bought a new stake in XPeng during the second quarter worth $129,000. Atomi Financial Group Inc. purchased a new stake in XPeng in the 3rd quarter valued at $129,000. Finally, Sequoia Financial Advisors LLC lifted its stake in XPeng by 24.3% during the 3rd 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. 21.09% of the stock is owned by institutional investors.

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.