XPeng Inc. (NYSE:XPEV – Get Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $9.15, but opened at $9.73. XPeng shares last traded at $9.70, with a volume of 2,714,613 shares.
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. cut their price target on shares of XPeng from $19.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, XPeng currently has an average rating of “Hold” and a consensus price target of $17.98.
XPeng Stock Up 4.7 %
The firm’s fifty day moving average price is $10.24 and its two-hundred day moving average price is $14.30. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of -4.89 and a beta of 2.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.27.
Hedge Funds Weigh In On XPeng
Several institutional investors have recently made changes to their positions in the stock. Compagnie Lombard Odier SCmA increased its position in shares of XPeng by 322.2% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,900 shares of the company’s stock worth $28,000 after acquiring an additional 1,450 shares in the last quarter. Nomura Asset Management Co. Ltd. bought a new stake in shares of XPeng during the first quarter worth about $28,000. Natixis increased its position in shares of XPeng by 355.6% during the second quarter. Natixis now owns 2,178 shares of the company’s stock worth $29,000 after acquiring an additional 1,700 shares in the last quarter. CWM LLC increased its position in shares of XPeng by 24.2% during the second quarter. CWM LLC now owns 2,840 shares of the company’s stock worth $38,000 after acquiring an additional 554 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new stake in shares of XPeng during the fourth quarter worth about $52,000. Institutional investors and hedge funds own 11.86% of the company’s stock.
About XPeng
XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EV) 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, maintenance, super charging, technical support, auto financing, insurance technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.