XPeng (NYSE:XPEV) Stock Price Up 8.8% – Should You Buy?

XPeng Inc. (NYSE:XPEV) was up 8.8% on Monday . The stock traded as high as $13.16 and last traded at $13.11. Approximately 4,605,964 shares traded hands during trading, a decline of 66% from the average daily volume of 13,625,136 shares. The stock had previously closed at $12.05.

Analysts Set New Price Targets

XPEV has been the subject of a number of research reports. China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target for the company in a research note on Friday, November 22nd. Sanford C. Bernstein boosted their target price on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $11.50 in a research note on Thursday, September 5th. Bank of America decreased their price target on XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.05.

XPeng Stock Performance

The stock has a market capitalization of $11.95 billion, a PE ratio of -14.95 and a beta of 2.76. 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’s 50-day moving average price is $12.07 and its 200 day moving average price is $9.43.

Hedge Funds Weigh In On XPeng

Hedge funds have recently added to or reduced their stakes in the company. Primecap Management Co. CA lifted its holdings in shares of XPeng by 5.6% during the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after buying an additional 872,160 shares during the period. Bank of Montreal Can raised its stake in XPeng by 212.1% during the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock worth $31,910,000 after acquiring an additional 2,724,549 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of XPeng during the 3rd quarter valued at $22,047,000. DekaBank Deutsche Girozentrale boosted its stake in shares of XPeng by 100.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock worth $8,864,000 after acquiring an additional 550,000 shares during the period. Finally, Point72 Europe London LLP purchased a new stake in XPeng during the 2nd quarter valued at approximately $5,923,000. 23.05% of the stock is currently owned by hedge funds and other institutional investors.

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.