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

Shares of XPENG Inc. Sponsored ADR (NYSE:XPEV) gapped up before the market opened on Tuesday. The stock had previously closed at $9.21, but opened at $9.55. XPENG shares last traded at $9.7150, with a volume of 1,672,789 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on XPEV shares. Weiss Ratings downgraded shares of XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, October 14th. Barclays reduced their target price on shares of XPENG from $15.00 to $14.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 25th. UBS Group began coverage on shares of XPENG in a research note on Wednesday, September 9th. They set a “neutral” rating and a $12.00 price target for the company. Finally, JPMorgan Chase & Co. lowered XPENG from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $24.00 to $11.50 in a report on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.09.

XPENG Price Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.11 and a quick ratio of 0.86. The firm has a fifty day moving average of $10.60 and a two-hundred day moving average of $13.40. The stock has a market capitalization of $9.43 billion, a P/E ratio of -20.57 and a beta of 1.07.

Institutional Investors Weigh In On XPENG

Several large investors have recently modified their holdings of XPEV. Valeo Financial Advisors LLC lifted its position in shares of XPENG by 0.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 387,230 shares of the company’s stock worth $5,127,000 after purchasing an additional 1,052 shares during the period. Nykredit A S bought a new position in XPENG in the second quarter worth approximately $825,000. Venturi Wealth Management LLC raised its stake in XPENG by 66.3% in the first quarter. Venturi Wealth Management LLC now owns 16,481 shares of the company’s stock worth $282,000 after buying an additional 6,571 shares in the last quarter. Greenleaf Trust lifted its holdings in XPENG by 18.3% during the second quarter. Greenleaf Trust now owns 19,075 shares of the company’s stock worth $253,000 after buying an additional 2,948 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in XPENG by 25.0% during the first quarter. Parallel Advisors LLC now owns 12,871 shares of the company’s stock worth $220,000 after buying an additional 2,578 shares during the period. Institutional investors own 21.09% of the company’s stock.

XPENG Company Profile

XPeng Inc is a China-based technology company focused on the design, development, manufacture and sale of smart electric vehicles. The company combines electric powertrain technology with software, connectivity and advanced driver-assistance features to develop vehicles intended for digitally connected and increasingly automated transportation.

XPeng’s product portfolio has included electric sedans, sport utility vehicles and multipurpose vehicles, such as the P7 sedan, P5 sedan, G6 and G9 SUVs, and X9 multipurpose vehicle.