XPeng (NYSE:XPEV) Shares Gap Up Following Better-Than-Expected Earnings

XPeng Inc. (NYSE:XPEV) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $22.64, but opened at $23.27. XPeng shares last traded at $23.46, with a volume of 1,729,431 shares traded.

The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($1.36) by $1.17. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%.

Analyst Upgrades and Downgrades

XPEV has been the subject of several research reports. Macquarie reaffirmed a “neutral” rating and issued a $18.00 target price on shares of XPeng in a research report on Friday, February 7th. Nomura raised XPeng from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $30.00 in a report on Wednesday. Nomura Securities upgraded XPeng to a “strong-buy” rating in a research note on Tuesday. The Goldman Sachs Group lowered XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price for the company. in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. lowered their target price on XPeng from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.84.

Institutional Trading of XPeng

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XPEV. EverSource Wealth Advisors LLC grew its position in shares of XPeng by 55.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after buying an additional 898 shares during the period. Avior Wealth Management LLC grew its position in shares of XPeng by 1,215.2% during the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock worth $33,000 after buying an additional 2,564 shares during the period. Lindbrook Capital LLC grew its position in shares of XPeng by 50.7% during the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after buying an additional 1,138 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of XPeng during the 4th quarter worth about $41,000. Finally, Natixis bought a new position in shares of XPeng during the 4th quarter valued at about $43,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.

XPeng Price Performance

The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The firm has a market cap of $20.79 billion, a P/E ratio of -25.36 and a beta of 2.68. The company has a fifty day moving average price of $18.10 and a two-hundred day moving average price of $13.92.

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.