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

XPENG Inc. Sponsored ADR (NYSE:XPEV) shares gapped up before the market opened on Monday. The stock had previously closed at $9.04, but opened at $9.51. XPENG shares last traded at $9.71, with a volume of 2,247,660 shares traded.

Analyst Ratings Changes

XPEV has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of XPENG from $11.50 to $10.00 and set a “neutral” rating on the stock in a report on Monday, October 26th. Weiss Ratings downgraded XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 14th. Barclays reduced their price target on shares of XPENG from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, August 25th. The Goldman Sachs Group set a $16.00 price objective on shares of XPENG in a research report on Friday, October 23rd. Finally, UBS Group initiated coverage on shares of XPENG in a report on Wednesday, September 9th. They issued a “neutral” rating and a $12.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, XPENG currently has a consensus rating of “Hold” and an average price target of $21.24.

XPENG Price Performance

The company has a 50-day simple moving average of $10.15 and a 200-day simple moving average of $14.52. The company has a market cap of $9.33 billion, a price-to-earnings ratio of -20.36 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.86 and a current ratio of 1.11.

Institutional Investors Weigh In On XPENG

Institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in XPENG in the third quarter worth about $493,000. Crossmark Global Holdings Inc. boosted its holdings in shares of XPENG by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 67,900 shares of the company’s stock valued at $649,000 after acquiring an additional 14,842 shares during the period. Quadrant Capital Group LLC grew its position in shares of XPENG by 393.4% during the third quarter. Quadrant Capital Group LLC now owns 93,100 shares of the company’s stock worth $908,000 after acquiring an additional 74,230 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of XPENG in the 3rd quarter worth about $213,000. Finally, TD Waterhouse Canada Inc. boosted its stake in XPENG by 133.6% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 15,605 shares of the company’s stock valued at $149,000 after purchasing an additional 8,925 shares during the period. 21.09% of the stock is currently owned by hedge funds and other institutional investors.

About XPENG

XPeng Inc is a China-based technology company focused on the design, development, manufacture and sale of smart electric vehicles. The company combines electric powertrain technology with software, connectivity and advanced driver-assistance features to develop vehicles intended for digitally connected and increasingly automated transportation.

XPeng’s product portfolio has included electric sedans, sport utility vehicles and multipurpose vehicles, such as the P7 sedan, P5 sedan, G6 and G9 SUVs, and X9 multipurpose vehicle.