XPENG (NYSE:XPEV) Stock Price Breaks Above 50 Day Moving Average – What’s Next?

Shares of XPENG Inc. Sponsored ADR (NYSE:XPEV) passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $9.97 and traded as high as $10.26. XPENG shares last traded at $10.2230, with a volume of 10,457,121 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group assumed coverage on XPENG in a research report on Wednesday, September 9th. They set a “neutral” rating and a $12.00 target price for the company. JPMorgan Chase & Co. lowered their price target on XPENG from $11.50 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, October 26th. The Goldman Sachs Group set a $16.00 price objective on XPENG in a research note on Friday, October 23rd. Barclays dropped their price objective on XPENG from $15.00 to $14.00 and set an “underweight” rating for the company in a research note on Tuesday, August 25th. Finally, Weiss Ratings cut XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 14th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, XPENG currently has an average rating of “Hold” and an average price target of $20.62.

XPENG Price Performance

The stock has a fifty day moving average of $9.97 and a two-hundred day moving average of $14.25. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of -21.30 and a beta of 0.96.

Institutional Trading of XPENG

A number of hedge funds and other institutional investors have recently made changes to their positions in XPEV. Valeo Financial Advisors LLC raised its holdings in shares of XPENG by 0.3% in the second quarter. Valeo Financial Advisors LLC now owns 387,230 shares of the company’s stock valued at $5,127,000 after buying an additional 1,052 shares during the last quarter. Aberdeen Group plc bought a new stake in XPENG during the 3rd quarter worth about $1,201,000. Quadrant Capital Group LLC grew its holdings in XPENG by 393.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 93,100 shares of the company’s stock worth $908,000 after acquiring an additional 74,230 shares during the last quarter. Ethic Inc. increased its position in XPENG by 25.5% in the 3rd quarter. Ethic Inc. now owns 82,564 shares of the company’s stock valued at $789,000 after acquiring an additional 16,800 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in XPENG by 28.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 67,900 shares of the company’s stock valued at $649,000 after acquiring an additional 14,842 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors and hedge funds.

XPENG Company Profile

XPENG Inc is a Chinese electric vehicle company that designs, develops, manufactures and sells smart electric vehicles. Founded in 2014 and headquartered in Guangzhou, the company focuses on combining vehicle engineering with software and technology features.

Its product lineup includes electric sedans, SUVs and multipurpose vehicles. XPENG also develops driver-assistance technologies, in-car software and related services, and operates charging infrastructure to support its vehicles.

The company primarily serves customers in China and has expanded into international markets.