XPENG (NYSE:XPEV) Shares Gap Up – Time to Buy?

XPENG Inc. Sponsored ADR (NYSE:XPEV)’s share price gapped up prior to trading on Friday . The stock had previously closed at $18.60, but opened at $19.68. XPENG shares last traded at $19.8670, with a volume of 2,310,580 shares traded.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $34.00 price target on shares of XPENG in a research note on Tuesday, November 11th. Daiwa America raised shares of XPENG from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. CLSA upgraded shares of XPENG to a “strong-buy” rating in a research note on Monday, September 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of XPENG in a research note on Wednesday, October 8th. Finally, Daiwa Capital Markets upgraded shares of XPENG from a “neutral” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Tuesday, November 18th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.37.

XPENG Stock Up 7.8%

The stock has a market cap of $19.02 billion, a PE ratio of -47.73 and a beta of 1.05. The business has a 50 day moving average price of $21.67 and a 200 day moving average price of $20.66. The company has a quick ratio of 0.95, a current ratio of 1.12 and a debt-to-equity ratio of 0.24.

XPENG (NYSE:XPEV) last issued its quarterly earnings data on Monday, November 17th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.41. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $20.48 billion. XPENG had a negative return on equity of 9.25% and a negative net margin of 4.02%. Equities research analysts expect that XPENG Inc. Sponsored ADR will post -0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On XPENG

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its stake in shares of XPENG by 567.4% in the 1st quarter. BNP Paribas Financial Markets now owns 5,306,883 shares of the company’s stock valued at $109,959,000 after acquiring an additional 4,511,751 shares during the period. Trexquant Investment LP acquired a new stake in XPENG in the 1st quarter valued at approximately $8,514,000. Quantitative Investment Management LLC purchased a new stake in XPENG in the first quarter valued at approximately $856,000. Public Employees Retirement System of Ohio raised its position in XPENG by 32.6% in the second quarter. Public Employees Retirement System of Ohio now owns 135,518 shares of the company’s stock valued at $2,423,000 after purchasing an additional 33,282 shares during the period. Finally, Quantbot Technologies LP lifted its stake in XPENG by 83.6% during the first quarter. Quantbot Technologies LP now owns 35,310 shares of the company’s stock worth $732,000 after purchasing an additional 16,076 shares in the last quarter. 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.