XPENG (NYSE:XPEV) Trading 6.4% Higher – Time to Buy?

XPENG Inc. Sponsored ADR (NYSE:XPEV) traded up 6.4% on Wednesday . The company traded as high as $13.98 and last traded at $14.2140. 1,353,010 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 6,790,966 shares. The stock had previously closed at $13.36.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on XPEV. Weiss Ratings reiterated a “sell (d-)” rating on shares of XPENG in a research report on Monday, April 20th. Barclays dropped their price objective on shares of XPENG from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and set a $25.20 price objective on shares of XPENG in a report on Friday, May 29th. BNP Paribas Exane downgraded XPENG from a “neutral” rating to an “underperform” rating in a report on Wednesday, April 22nd. Finally, Bank of America reiterated a “buy” rating on shares of XPENG in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.40.

XPENG Stock Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.14 and a quick ratio of 0.89. The firm has a market capitalization of $13.42 billion, a P/E ratio of -41.33 and a beta of 1.12. The stock’s 50 day moving average is $14.64 and its two-hundred day moving average is $16.98.

XPENG (NYSE:XPEV) last announced its quarterly earnings data on Thursday, May 28th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.16). XPENG had a negative net margin of 3.09% and a negative return on equity of 7.72%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. As a group, equities analysts anticipate that XPENG Inc. Sponsored ADR will post -0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in XPENG by 7.1% in the fourth quarter. SG Americas Securities LLC now owns 1,168,406 shares of the company’s stock valued at $23,695,000 after purchasing an additional 77,476 shares during the last quarter. DNB Asset Management AS bought a new position in XPENG during the fourth quarter worth about $2,325,000. Abacus Wealth Partners LLC bought a new position in XPENG during the fourth quarter worth about $1,060,000. EverSource Wealth Advisors LLC grew its position in shares of XPENG by 54.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,035 shares of the company’s stock worth $103,000 after buying an additional 2,129 shares during the period. Finally, Valeo Financial Advisors LLC grew its position in shares of XPENG by 0.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 387,230 shares of the company’s stock worth $5,127,000 after buying an additional 1,052 shares during the period. 21.09% of the stock is currently owned by institutional investors.

XPENG Company Profile

XPENG Inc (NYSE: XPEV) is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.

Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.