XPeng (NYSE:XPEV) Trading 6.7% Higher – Here’s Why

XPeng Inc. (NYSE:XPEV) traded up 6.7% during mid-day trading on Thursday . The stock traded as high as $13.98 and last traded at $13.93. 2,509,734 shares were traded during mid-day trading, a decline of 75% from the average session volume of 10,032,017 shares. The stock had previously closed at $13.05.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on XPEV. Sanford C. Bernstein increased their price objective on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Citigroup dropped their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a report on Wednesday, November 20th. China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price on the stock in a report on Friday, November 22nd. UBS Group restated a “sell” rating and set a $8.80 price objective (up previously from $8.20) on shares of XPeng in a report on Thursday, December 5th. Finally, The Goldman Sachs Group lowered XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, XPeng presently has a consensus rating of “Moderate Buy” and an average price target of $11.69.

XPeng Price Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The company has a fifty day moving average price of $12.61 and a two-hundred day moving average price of $10.54. The company has a market cap of $13.32 billion, a P/E ratio of -16.26 and a beta of 2.74.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC boosted its position in shares of XPeng by 1,215.2% in the fourth quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after acquiring an additional 2,564 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in XPeng in the 3rd quarter worth about $45,000. Venturi Wealth Management LLC bought a new stake in XPeng in the 3rd quarter valued at about $110,000. Susquehanna International Securities Ltd. acquired a new position in shares of XPeng during the 2nd quarter worth approximately $129,000. Finally, Atomi Financial Group Inc. bought a new position in shares of XPeng during the third quarter worth approximately $129,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.

XPeng Company Profile

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.