XPeng (NYSE:XPEV) Trading Up 6.4% – Time to Buy?

XPeng Inc. (NYSE:XPEV) shot up 6.4% during trading on Monday . The stock traded as high as $16.02 and last traded at $16.20. 6,145,231 shares were traded during mid-day trading, a decline of 38% from the average session volume of 9,865,255 shares. The stock had previously closed at $15.22.

Analyst Ratings Changes

XPEV has been the subject of several analyst reports. UBS Group reissued a “sell” rating and set a $8.80 price target (up previously from $8.20) on shares of XPeng in a research report on Thursday, December 5th. Sanford C. Bernstein lifted their target price on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. 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 report on Friday, November 22nd. The Goldman Sachs Group lowered 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. Finally, 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. One investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.69.

XPeng Stock Down 2.7 %

The company has a market capitalization of $15.58 billion, a PE ratio of -19.01 and a beta of 2.77. The company’s fifty day moving average is $13.16 and its 200-day moving average is $11.14. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

Institutional Investors Weigh In On XPeng

A number of institutional investors and hedge funds have recently bought and sold shares of the business. TMT General Partner Ltd purchased a new stake in shares of XPeng during the fourth quarter worth about $205,501,000. Point72 Hong Kong Ltd bought a new position in shares of XPeng during the 3rd quarter valued at about $22,047,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of XPeng during the 3rd quarter worth approximately $6,233,000. Central Asset Investments & Management Holdings HK Ltd raised its position in shares of 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 valued at $4,969,000 after buying an additional 108,000 shares in the last quarter. Finally, FMR LLC raised its holdings in XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock valued at $3,941,000 after buying an additional 295,536 shares during the period. 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.