XPeng (NYSE:XPEV) Hits New 52-Week High – Still a Buy?

Shares of XPeng Inc. (NYSE:XPEV) reached a new 52-week high on Wednesday . The stock traded as high as $18.26 and last traded at $17.97, with a volume of 2173821 shares. The stock had previously closed at $17.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on XPEV shares. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective for the company in a report on Friday, November 22nd. Sanford C. Bernstein raised their target price on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Macquarie reiterated a “neutral” rating and issued a $18.00 price target on shares of XPeng in a research note on Friday, February 7th. UBS Group restated a “sell” rating and set a $8.80 price objective (up previously from $8.20) on shares of XPeng in a research report on Thursday, December 5th. Finally, The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, XPeng has a consensus rating of “Moderate Buy” and an average price target of $12.91.

XPeng Trading Up 4.0 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The company has a market capitalization of $17.34 billion, a P/E ratio of -21.15 and a beta of 2.77. The company’s fifty day simple moving average is $14.15 and its 200-day simple moving average is $11.82.

Institutional Investors Weigh In On XPeng

A number of hedge funds and other institutional investors have recently bought and sold shares of XPEV. Alibaba Group Holding Ltd boosted its holdings in XPeng by 21.2% in the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock worth $448,678,000 after acquiring an additional 6,650,000 shares in the last quarter. TMT General Partner Ltd acquired a new stake in shares of XPeng during the fourth quarter worth about $205,501,000. JPMorgan Chase & Co. raised its position in XPeng by 1,138.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock worth $54,354,000 after buying an additional 4,227,055 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of XPeng in the 3rd quarter valued at $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of XPeng by 947.5% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock valued at $20,800,000 after buying an additional 1,591,750 shares during the last quarter. Hedge funds and other institutional investors own 21.09% of the company’s stock.

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.