XPeng (NYSE:XPEV) Sees Large Volume Increase – Here’s Why

Shares of XPeng Inc. Sponsored ADR (NYSE:XPEV) saw strong trading volume on Monday . 17,629,366 shares were traded during trading, an increase of 84% from the previous session’s volume of 9,595,664 shares.The stock last traded at $24.8840 and had previously closed at $22.42.

Wall Street Analyst Weigh In

XPEV has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of XPeng in a research note on Wednesday, October 8th. BNP Paribas began coverage on shares of XPeng in a report on Monday, August 18th. They set a “hold” rating on the stock. Citigroup increased their target price on XPeng from $29.00 to $29.40 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Macquarie boosted their price target on XPeng from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Finally, Bank of America upped their price objective on XPeng from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.85.

XPeng Trading Up 15.9%

The company has a 50 day simple moving average of $21.97 and a two-hundred day simple moving average of $20.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.14. The firm has a market cap of $24.67 billion, a PE ratio of -41.26 and a beta of 2.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atlas Capital Advisors Inc. raised its stake in shares of XPeng by 651.0% during the 1st quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company’s stock valued at $31,000 after buying an additional 1,302 shares during the last quarter. SVB Wealth LLC acquired a new stake in XPeng during the first quarter worth about $46,000. Bayforest Capital Ltd raised its position in XPeng by 145.5% during the first quarter. Bayforest Capital Ltd now owns 2,283 shares of the company’s stock valued at $47,000 after acquiring an additional 1,353 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in XPeng in the first quarter valued at approximately $54,000. Finally, EverSource Wealth Advisors LLC boosted its position in XPeng by 16.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,694 shares of the company’s stock worth $63,000 after purchasing an additional 389 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors and hedge funds.

XPeng Company Profile

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.