XPeng Inc (NYSE:XPEV) shares are trading higher on Monday. The company provided a vehicle delivery update for November over the weekend. Here’s a look at what you need to know.
What To Know: XPeng announced Sunday that it delivered 30,895 EVs in November, up 54% year-over-year, and 29% on a month-over-month basis. The company has now delivered 153,373 vehicles since the start of the year, up 25% year-over-year.
XPeng noted that deliveries of its Mona M03 exceeded 10,000 units for the third consecutive month since launch. P7+ deliveries exceeded 7,000 units just 23 days after launch.
The EV maker said its monthly active user penetration rate in urban driving reached 85% last month. The company entered into Nepal and UK markets in November and noted that its G6 was awarded the 2024 Technology Frontrunner of the Year title at the 2024 Danish Car of the Year ceremony.
XPeng reported third-quarter financial results last month that came in ahead of analyst estimates. The company guided for fourth-quarter vehicle deliveries of 87,000 to 91,000, up approximately 44% to 51% year-over-year.
Following the company’s quarterly results, Bernstein analyst Eunice Lee maintained XPeng with a Market Perform rating and raised the price target from $9 to $14. Citigroup maintained a Neutral rating and lowered the price target from $14.60 to $13.70 and China Renaissance upgraded XPeng from Hold to Buy and set a price target of $16.70.
See Also: Biden Targets China With New Chip Restrictions, Nvidia Slides
How To Buy XPEV Stock
By now you're likely curious about how to participate in the market for XPeng – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. In the case of XPeng, which is trading at $12.77 as of publishing time, $100 would buy you 7.83 shares of stock.
XPEV Price Action: XPeng shares were up 4.77% at $12.62 at the time of publication, according to Benzinga Pro.
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