XPeng (NYSE:XPEV) Sees Large Volume Increase – Should You Buy?

Shares of XPeng Inc. (NYSE:XPEV) saw strong trading volume on Tuesday . 7,497,459 shares changed hands during mid-day trading, a decline of 45% from the previous session’s volume of 13,646,343 shares.The stock last traded at $12.17 and had previously closed at $13.01.

Analysts Set New Price Targets

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

XPeng Price Performance

The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The company’s fifty day moving average price is $11.53 and its two-hundred day moving average price is $9.19. The company has a market cap of $11.72 billion, a price-to-earnings ratio of -9.95 and a beta of 2.80.

XPeng (NYSE:XPEV) last released its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. The firm 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 research analysts forecast that XPeng Inc. will post -1 EPS for the current fiscal year.

Institutional Investors Weigh In On XPeng

Several large investors have recently made changes to their positions in the stock. Sei Investments Co. boosted its position in XPeng by 83.0% in the first quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock valued at $994,000 after buying an additional 58,700 shares in the last quarter. Natixis bought a new stake in shares of XPeng during the first quarter worth about $38,000. Alpine Global Management LLC bought a new position in shares of XPeng in the first quarter valued at approximately $307,000. Tidal Investments LLC grew its stake in shares of XPeng by 25.2% in the 1st quarter. Tidal Investments LLC now owns 93,420 shares of the company’s stock worth $717,000 after acquiring an additional 18,826 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of XPeng by 100.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock worth $8,864,000 after buying an additional 550,000 shares in the last quarter. Institutional investors and hedge funds own 23.05% of the company’s stock.

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.