XPENG (NYSE:XPEV) Shares Gap Up – Here’s Why

XPENG Inc. Sponsored ADR (NYSE:XPEV) shares gapped up before the market opened on Thursday . The stock had previously closed at $13.78, but opened at $14.32. XPENG shares last traded at $14.3820, with a volume of 2,633,958 shares traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on XPEV shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $25.20 price objective on shares of XPENG in a research report on Friday, May 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of XPENG in a report on Monday, April 20th. Bank of America reiterated a “buy” rating on shares of XPENG in a research report on Thursday, May 28th. Wall Street Zen cut shares of XPENG from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Finally, Barclays lowered their price objective on shares of XPENG from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.40.

XPENG Trading Up 3.2%

The business’s 50 day moving average price is $14.67 and its two-hundred day moving average price is $17.02. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of -41.83 and a beta of 1.12.

XPENG (NYSE:XPEV) last released its quarterly earnings data on Thursday, May 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. XPENG had a negative return on equity of 7.72% and a negative net margin of 3.09%. On average, equities analysts predict that XPENG Inc. Sponsored ADR will post -0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of XPENG by 161.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,562 shares of the company’s stock valued at $52,000 after acquiring an additional 1,582 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in XPENG by 45.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,906 shares of the company’s stock worth $79,000 after purchasing an additional 1,212 shares in the last quarter. Kickstand Ventures LLC. bought a new position in XPENG in the fourth quarter valued at about $202,000. Parallel Advisors LLC raised its position in XPENG by 6.0% in the fourth quarter. Parallel Advisors LLC now owns 10,293 shares of the company’s stock valued at $209,000 after purchasing an additional 584 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of XPENG by 66.3% during the first quarter. Venturi Wealth Management LLC now owns 16,481 shares of the company’s stock valued at $282,000 after purchasing an additional 6,571 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors.

About XPENG

XPENG Inc (NYSE: XPEV) is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.

Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.