XPENG (NYSE:XPEV) Shares Gap Up – Here’s Why

Shares of XPENG Inc. Sponsored ADR (NYSE:XPEV) gapped up prior to trading on Thursday . The stock had previously closed at $13.78, but opened at $14.32. XPENG shares last traded at $14.3820, with a volume of 2,633,958 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on XPEV shares. Barclays lowered their price target on shares of XPENG from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Thursday. Wall Street Zen downgraded shares of XPENG from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. Bank of America reiterated a “buy” rating on shares of XPENG in a research report on Thursday, May 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of XPENG in a research note on Monday, April 20th. Finally, BNP Paribas Exane lowered shares of XPENG from a “neutral” rating to an “underperform” rating in a research report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Sell rating to the company. According to MarketBeat.com, XPENG has an average rating of “Hold” and an average target price of $25.40.

XPENG Price Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.14. The company’s 50 day moving average price is $14.59 and its 200 day moving average price is $16.95. The company has a market cap of $12.93 billion, a price-to-earnings ratio of -39.83 and a beta of 1.12.

XPENG (NYSE:XPEV) last posted its earnings results 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). The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. XPENG had a negative return on equity of 7.72% and a negative net margin of 3.09%. On average, equities research analysts predict that XPENG Inc. Sponsored ADR will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its position in XPENG by 7.1% during the 4th quarter. SG Americas Securities LLC now owns 1,168,406 shares of the company’s stock worth $23,695,000 after acquiring an additional 77,476 shares during the last quarter. DNB Asset Management AS bought a new position in XPENG in the 4th quarter valued at $2,325,000. Abacus Wealth Partners LLC acquired a new position in XPENG in the fourth quarter worth $1,060,000. Parallel Advisors LLC grew its holdings in shares of XPENG by 25.0% during the first quarter. Parallel Advisors LLC now owns 12,871 shares of the company’s stock worth $220,000 after purchasing an additional 2,578 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of XPENG by 54.5% during the first quarter. EverSource Wealth Advisors LLC now owns 6,035 shares of the company’s stock worth $103,000 after purchasing an additional 2,129 shares during the last quarter. Institutional investors own 21.09% of the company’s stock.

About XPENG

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.