XPeng (NYSE:XPEV) Trading 6.9% Higher

Shares of XPeng Inc. (NYSE:XPEV) were up 6.9% during trading on Thursday . The company traded as high as $9.24 and last traded at $9.24. Approximately 2,253,860 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 12,835,960 shares. The stock had previously closed at $8.64.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on XPEV shares. Daiwa Capital Markets upgraded XPeng from a “neutral” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Thursday, May 23rd. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $8.00 to $11.50 in a report on Thursday, September 5th. Citigroup reduced their target price on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. Daiwa America upgraded shares of XPeng to a “strong-buy” rating in a research note on Thursday, May 23rd. Finally, Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, XPeng currently has a consensus rating of “Buy” and an average target price of $12.08.

XPeng Stock Up 9.0 %

The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of -6.24 and a beta of 2.75. The stock has a 50 day moving average of $7.96 and a 200 day moving average of $8.09. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last issued its earnings results on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. The company had revenue of $1.12 billion during the quarter. As a group, analysts expect that XPeng Inc. will post -0.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XPeng

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of XPeng by 122.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after buying an additional 2,920 shares during the last quarter. Scarborough Advisors LLC bought a new stake in XPeng during the fourth quarter worth approximately $52,000. Signaturefd LLC raised its holdings in XPeng by 19.4% during the second quarter. Signaturefd LLC now owns 24,647 shares of the company’s stock worth $181,000 after purchasing an additional 4,002 shares in the last quarter. Natixis bought a new stake in XPeng during the first quarter worth approximately $38,000. Finally, Ballentine Partners LLC raised its holdings in XPeng by 47.0% during the first quarter. Ballentine Partners LLC now owns 19,933 shares of the company’s stock worth $153,000 after purchasing an additional 6,376 shares in the last quarter. 23.05% of the stock is currently owned by institutional investors and hedge funds.

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.