XPeng (NYSE:XPEV) Shares Gap Up to $7.08

XPeng Inc. (NYSE:XPEV) shares gapped up before the market opened on Friday . The stock had previously closed at $7.08, but opened at $7.69. XPeng shares last traded at $7.82, with a volume of 6,863,925 shares trading hands.

Analyst Upgrades and Downgrades

XPEV has been the subject of several recent analyst reports. Macquarie started coverage on shares of XPeng in a report on Monday, April 15th. They issued a “neutral” rating and a $7.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on XPeng from $19.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, February 23rd. Three analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, XPeng has an average rating of “Hold” and an average target price of $17.48.

XPeng Stock Performance

The firm has a market cap of $7.39 billion, a PE ratio of -4.64 and a beta of 2.93. The firm’s 50 day simple moving average is $8.52 and its 200 day simple moving average is $11.94. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last posted its earnings results on Tuesday, March 19th. The company reported ($0.21) EPS for the quarter. The firm had revenue of $1.84 billion during the quarter. XPeng had a negative return on equity of 31.17% and a negative net margin of 33.77%. On average, research analysts forecast that XPeng Inc. will post -1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates acquired a new position in XPeng during the third quarter valued at $242,000. Lindbrook Capital LLC boosted its stake in XPeng by 33.0% during the 3rd quarter. Lindbrook Capital LLC now owns 3,149 shares of the company’s stock worth $58,000 after purchasing an additional 781 shares during the last quarter. RWC Asset Advisors US LLC purchased a new stake in XPeng during the 3rd quarter valued at about $29,830,000. RWC Asset Management LLP acquired a new stake in shares of XPeng in the third quarter valued at approximately $8,291,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of XPeng by 41.1% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,120 shares of the company’s stock worth $164,000 after acquiring an additional 2,657 shares during the period. Hedge funds and other institutional investors own 23.05% of the company’s stock.

XPeng Company Profile

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EV) 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, maintenance, super charging, technical support, auto financing, insurance technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.