XPeng (NYSE:XPEV) Shares Gap Up – Here’s Why

XPeng Inc. Sponsored ADR (NYSE:XPEV) gapped up before the market opened on Tuesday . The stock had previously closed at $18.65, but opened at $19.06. XPeng shares last traded at $18.83, with a volume of 1,116,658 shares.

Analysts Set New Price Targets

XPEV has been the subject of a number of recent analyst reports. Nomura Securities raised XPeng to a “strong-buy” rating in a report on Tuesday, March 18th. Sanford C. Bernstein set a $19.00 price target on XPeng and gave the company a “market perform” rating in a report on Thursday, May 22nd. Citigroup raised shares of XPeng from a “neutral” rating to a “buy” rating and upped their price target for the stock from $13.70 to $29.00 in a research note on Monday, March 10th. Daiwa Capital Markets reaffirmed a “neutral” rating and set a $24.00 target price on shares of XPeng in a report on Wednesday, March 19th. Finally, UBS Group upgraded shares of XPeng from a “sell” rating to a “neutral” rating and raised their target price for the stock from $8.80 to $18.00 in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, XPeng presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.73.

XPeng Stock Up 0.3%

The firm has a 50-day moving average of $19.68 and a two-hundred day moving average of $17.70. The stock has a market capitalization of $17.68 billion, a price-to-earnings ratio of -24.85 and a beta of 2.58. The company has a quick ratio of 1.07, a current ratio of 1.21 and a debt-to-equity ratio of 0.34.

XPeng (NYSE:XPEV) last issued its earnings results on Wednesday, May 21st. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.51) by $1.41. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $15.80 billion. XPeng had a negative return on equity of 15.89% and a negative net margin of 10.20%. As a group, sell-side analysts anticipate that XPeng Inc. Sponsored ADR will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On XPeng

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in XPeng by 1,138.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock worth $54,354,000 after purchasing an additional 4,227,055 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of XPeng by 14.2% in the fourth quarter. Van ECK Associates Corp now owns 253,875 shares of the company’s stock worth $3,001,000 after buying an additional 31,538 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of XPeng during the 4th quarter worth $554,000. AI Squared Management Ltd acquired a new position in XPeng in the 4th quarter valued at $2,126,000. Finally, Savant Capital LLC bought a new position in XPeng in the 4th quarter worth $229,000. Institutional investors and hedge funds own 21.09% 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.