XPENG (NYSE:XPEV) Trading 5.4% Higher – What’s Next?
by Michael Walen · The Markets DailyXPENG Inc. Sponsored ADR (NYSE:XPEV – Get Free Report)’s share price rose 5.4% during mid-day trading on Friday . The company traded as high as $20.45 and last traded at $20.6180. Approximately 1,449,580 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 10,045,602 shares. The stock had previously closed at $19.57.
Analyst Upgrades and Downgrades
XPEV has been the subject of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $34.00 target price on shares of XPENG in a report on Tuesday, November 11th. Daiwa Capital Markets upgraded XPENG from a “neutral” rating to a “buy” rating and set a $29.00 target price for the company in a report on Tuesday, November 18th. Weiss Ratings restated a “sell (d-)” rating on shares of XPENG in a research note on Wednesday, October 8th. CLSA upgraded XPENG to a “strong-buy” rating in a report on Monday, September 22nd. Finally, Daiwa America raised shares of XPENG from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, XPENG currently has an average rating of “Moderate Buy” and a consensus price target of $25.37.
Read Our Latest Stock Analysis on XPENG
XPENG Stock Up 7.7%
The company has a fifty day simple moving average of $21.50 and a 200-day simple moving average of $20.66. The company has a quick ratio of 0.95, a current ratio of 1.12 and a debt-to-equity ratio of 0.24. The firm has a market cap of $20.01 billion, a P/E ratio of -49.95 and a beta of 1.05.
XPENG (NYSE:XPEV – Get Free Report) last released its earnings results on Monday, November 17th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.41. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $20.48 billion. XPENG had a negative net margin of 4.02% and a negative return on equity of 9.25%. On average, equities analysts anticipate that XPENG Inc. Sponsored ADR will post -0.96 earnings per share for the current year.
Institutional Investors Weigh In On XPENG
A number of institutional investors and hedge funds have recently bought and sold shares of XPEV. BNP Paribas Financial Markets boosted its stake in shares of XPENG by 567.4% in the first quarter. BNP Paribas Financial Markets now owns 5,306,883 shares of the company’s stock worth $109,959,000 after acquiring an additional 4,511,751 shares during the period. SG Americas Securities LLC raised its position in shares of XPENG by 356.9% during the third quarter. SG Americas Securities LLC now owns 1,090,930 shares of the company’s stock valued at $25,550,000 after buying an additional 1,515,591 shares during the last quarter. Marshall Wace LLP boosted its position in shares of XPENG by 228.7% during the second quarter. Marshall Wace LLP now owns 1,639,403 shares of the company’s stock worth $29,313,000 after acquiring an additional 1,140,593 shares during the last quarter. Trexquant Investment LP purchased a new position in XPENG during the first quarter valued at $8,514,000. Finally, Public Employees Retirement System of Ohio increased its holdings in XPENG by 32.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 135,518 shares of the company’s stock valued at $2,423,000 after acquiring an additional 33,282 shares during the last quarter. 21.09% of the stock is 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.