XPENG (NYSE:XPEV) Shares Gap Up – Should You Buy?

XPENG Inc. Sponsored ADR (NYSE:XPEV) gapped up before the market opened on Tuesday. The stock had previously closed at $9.21, but opened at $9.55. XPENG shares last traded at $9.7150, with a volume of 1,672,789 shares.

Analyst Ratings Changes

Several research analysts have recently commented on XPEV shares. JPMorgan Chase & Co. downgraded XPENG from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $24.00 to $11.50 in a report on Tuesday, September 29th. Weiss Ratings lowered XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, October 14th. Barclays dropped their price target on XPENG from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Tuesday, August 25th. Finally, UBS Group began coverage on XPENG in a report on Wednesday, September 9th. They set a “neutral” rating and a $12.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.09.

XPENG Price Performance

The stock has a fifty day moving average of $10.52 and a 200-day moving average of $13.29. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $8.93 billion, a P/E ratio of -19.49 and a beta of 1.07.

Institutional Investors Weigh In On XPENG

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its stake in shares of XPENG by 393.4% in 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. Nykredit A S acquired a new position in shares of XPENG during the second quarter worth approximately $825,000. SteelPeak Wealth LLC acquired a new position in shares of XPENG during the third quarter worth approximately $213,000. Crossmark Global Holdings Inc. lifted its position 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 worth $649,000 after purchasing an additional 14,842 shares in the last quarter. Finally, Altar Rock LLC bought a new stake in shares of XPENG during the second quarter valued at approximately $196,000. Institutional investors and hedge funds own 21.09% of the company’s stock.

XPENG Company Profile

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.