XPeng (NYSE:XPEV) Sees Strong Trading Volume on Earnings Beat

XPeng Inc. Sponsored ADR (NYSE:XPEV) saw an uptick in trading volume on Monday following a stronger than expected earnings report. 15,570,155 shares changed hands during trading, an increase of 54% from the previous session’s volume of 10,089,409 shares.The stock last traded at $23.15 and had previously closed at $25.01.

The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.41. XPeng had a negative net margin of 7.14% and a negative return on equity of 13.76%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on XPEV. Macquarie increased 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. Bank of America upped their target price on XPeng from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, August 19th. BNP Paribas started coverage on shares of XPeng in a research note on Monday, August 18th. They issued a “hold” rating on the stock. CLSA raised shares of XPeng to a “strong-buy” rating in a report on Monday, September 22nd. Finally, BNP Paribas Exane started coverage on shares of XPeng in a research report on Monday, August 18th. They issued a “neutral” rating and a $19.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.32.

Institutional Investors Weigh In On XPeng

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of XPeng in the 1st quarter valued at approximately $3,695,000. Mackenzie Financial Corp acquired a new stake in shares of XPeng during the 1st quarter worth about $2,548,000. Banque Cantonale Vaudoise purchased a new stake in XPeng during the first quarter worth approximately $54,000. Harvest Fund Management Co. Ltd lifted its stake in XPeng by 7.9% during the first quarter. Harvest Fund Management Co. Ltd now owns 88,500 shares of the company’s stock worth $1,834,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Bayforest Capital Ltd boosted its holdings in XPeng by 145.5% in the first quarter. Bayforest Capital Ltd now owns 2,283 shares of the company’s stock valued at $47,000 after purchasing an additional 1,353 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors and hedge funds.

XPeng Stock Performance

The company has a market cap of $21.59 billion, a PE ratio of -36.10 and a beta of 2.54. The firm has a fifty day simple moving average of $22.59 and a 200-day simple moving average of $20.64. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

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.