XPeng (NYSE:XPEV) Shares Up 5.7% – Should You Buy?

XPeng Inc. (NYSE:XPEV)’s share price shot up 5.7% during trading on Tuesday . The company traded as high as $12.91 and last traded at $12.76. 4,102,614 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 13,424,447 shares. The stock had previously closed at $12.07.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XPEV. Citigroup dropped their target price on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Bank of America cut their price objective on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $8.00 to $11.50 in a research report on Thursday, September 5th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, XPeng currently has an average rating of “Buy” and a consensus target price of $9.42.

XPeng Stock Down 4.0 %

The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $10.58 and a 200-day moving average price of $8.83. The firm has a market cap of $11.59 billion, a P/E ratio of -10.08 and a beta of 2.80.

XPeng (NYSE:XPEV) last issued its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. The company had revenue of $1.12 billion for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. On average, equities analysts forecast that XPeng Inc. will post -0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On XPeng

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA raised its stake in XPeng by 5.6% in the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after buying an additional 872,160 shares during the last quarter. Bank of Montreal Can raised its stake in shares of XPeng by 212.1% in the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock worth $31,910,000 after purchasing an additional 2,724,549 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of XPeng by 73.7% in the first quarter. Russell Investments Group Ltd. now owns 1,415,568 shares of the company’s stock worth $10,872,000 after purchasing an additional 600,437 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of XPeng by 100.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock worth $8,864,000 after purchasing an additional 550,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of XPeng by 35.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company’s stock worth $7,516,000 after purchasing an additional 257,300 shares during the last quarter. 23.05% of the stock is currently owned by hedge funds and other 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.