XPeng Stock Soars 6% on Earnings Reports XPeng ( NYSE:XPEV ), a Chinese electric vehicle (EV) maker that focuses on artificial intelligence (AI) technology, reported better-than-expected results as deliveries of its electric vehicles jumped. The company's loss was slashed in half, and revenue was up 62.3% year-over-year. Delivery increases increased 19.7% due to lower prices and the launch of a new model. American depositary receipts (ADRs) of XPeng ( NYSE:XPEV ) surged after the company posted strong sales and slashed its losses on higher deliveries.
XPeng ( NYSE:XPEV ) reported a first-quarter loss of 1.37 billion Chinese yuan ($190 million), about a billion yuan less than a year ago. Adjusted loss per American depositary share (ADS) of CNY1.49 was narrower than estimates. Revenue soared 62.3% to CNY6.55 billion, also better than forecasts. Gross margin skyrocketed to 12.9% from 1.7% a year ago.
Vehicle deliveries were up 19.7% year-over-year to 21,821, helped by a March price cut and the introduction of its X9 model during the quarter. Co-President Dr. Hongdi Brian Gu said that the performance came “despite fierce market competition,” arguing that the company “has developed a unique approach to lift its profitability and international market potential by providing smart technologies.”
XPeng ( NYSE:XPEV ) expects current-quarter deliveries of 29,000 to 32,000, representing a 25.0% to 37.9% increase from a year earlier. It sees revenue in a range of CNY7.5 billion to CNY8.3 billion, a jump of 48.1% to 63.9% from Q2 2023. XPeng ADRs ( NYSE:XPEV ) shares surged 8% to $8.77 as of the time of writing but have lost more than a third of their value this year.
Xpevlong
XPEV Elliot Impulse Wave I think that NYSE:XPEV completed the Elliot WXYXZ correction wave in April 2024, which started in July 2023.
I think that the major Elliot wave, which I am currently showing with the red line, has started 3 impulse waves. I think that this 3rd impulse wave will make the 1st wave. This impulse movement can take NYSE:XPEV up to $13-$15.
Take Profit Point 1: $10.2
Take Profit Point 2: $13
Take Profit Point 3: $15
Invalidation Level: $6
XPeng G9 SUV earns 5-star safety rating from Euro NCAPChinese electric vehicle maker, XPeng Motors (NYSE:XPEV) announced Wednesday that the international model of their XPeng G9 SUV has received a five-star 2023 safety rating from Euro NCAP.
The five-star safety rating system by Euro NCAP is designed to assist consumers, families, and businesses in easily comparing vehicles and selecting the safest option suited to their requirements. These tests, mirroring real-life road dangers, set the benchmark in Europe for thorough automotive safety evaluations.
The XPeng G9's rating acknowledges its advanced body structure and extensive passive safety features, specifically engineered to safeguard passengers during collisions. These innovations collaborate to handle crash forces, diminish impact acceleration, and decrease the likelihood of injuries to occupants.
This achievement follows XPeng's five-star safety rating for the international model of the XPeng P7 in October, marking their second five-star rating this year.
Technical Analysis
Shares of XPEV are up 4.26% in mid-day trading.
The earnings estimate for the current quarter (Dec 2023) is -$0.46 per share, which is lower than the actual earnings of -$0.39 per share in the same quarter last year3. The revenue estimate for the current quarter is $1.89 billion, which is more than double the actual revenue of $733.4 million in the same quarter last year.
The growth estimates for XPEV are negative, with a projected decline of -7.5% in earnings for the current year (2023) and a projected decline of -5.74% in earnings for the next five years (per annum).
XPEV is facing some challenges in the market, despite its strong revenue growth. The stock price may continue to fluctuate in the near term, depending on the company’s performance and the market sentiment.
XPEV XPeng Inc Options Ahead Of EarningsLooking at the XPEV XPeng Inc options chain ahead of earnings , i would buy the $10 strike price Calls with
2023-3-17 expiration date for about
$0.76 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
Chinese Stocks Inverse H&S reversal? BABA had strong earnings and beat earnings expectations.
The stock popped and retraced back however it is showing nice support on that right shoulder along with XPEV and & NIO.
I like these stocks as a buy here and think they can easily reach the neckline resistance by the end of the month. They
They have all broke their respective downtrends.
XPEV & NIO have earnings this month and with many people converting to electric vehicles they could surprise us in a good way.
Im still skeptical on SPY at current levels so I would like to see how these stocks react on the next retracement/correction/continuation.
XPEV Price TargetPrice target for XPEV is $33.
All the Chinese stocks are primed for a strong recovery after China`s top administrative authority said it would work to stabilize the stock market and boost economic growth!
Traders are expecting the Chinese government would support the stock market like the FED did in the US.
XPEV the real Tesla of ChinaXPeng is beating Nio and Li deliveries.
Xpeng 12,922 deliveries in January Market Cap 29.562B
Nio 9,652 vehicles in January Market Cap 36.79B
Li 12,268 Li ONEs Market Cap 27.712B
They have cheaper cars and Ark invest keeps buying XPEV stock constantly.
In the chart, the price bounced from the strong support of 31.5 and is heading to the $41 resistance.
Looking forward to read your opinion about it.
Xpeng: Still On Track!😎😎😎It took some time for the Xpeng stock to pick upt some momentum, but it is looking better now! We expect the price to increase to an area around $75 in the first step, before another correction sets in. In the long-run, however, the stock should move towards $143.
Push it to the limit!
Chinese EV Stock Xpeng XPEV Has A Bullish PotentialXpeng XPEV violated the downward trend line with a bullish strength and momentum.
XPEV could target $34.40 and $41.80 consecutively according to Fibonacci retracement levels.
Xpeng has underperformed this year, with its stocks down by roughly 30% each, since early January.
The Chinese electric vehicle (EV) space is booming, with China-based manufacturers accounting for over 50% of global EV deliveries.
XPEV breakout and bounce from previous lowsLooking at those bounces from previous lows in January and March (right after Earnings call), current upward trend has same speed and timing. Targeting $35-45 range by end of May to first half of June if breakout above current level ($27.5) at the top of the channel.
Xpeng: X Bang! 💣💣💣Although the heading can be slightly misunderstood, we believe it represents the potential of this stock the best. For the Xpeng stock, we do not see a way in which this can explode in the negative sense. Rather, we expect the price to skyrocket so at least $121 – and this is only the beginning. In the first place, the price needs to clearly stabilize above $37.50. After that, there will be a massive bullish run.
It’s not too late to hop on the train!
XPENG Gap Filled What's Next?XPENG has been trading in a downward trend since November of last year. We're now down 63% from the peak in November. This big sell-off is amplified by two factors. One, restrictions on selling for long-term investors were lifted. Two, we've seen a sharp correction in tech stocks and hype stocks. We also saw the Chinese market correct by more than 10% last month.
Now the price has filled in the gap back on November 4th. This is a critical support level to keep an eye on. If the price breaks this level at 27.50, the next support level is at the next gap at 22.30. Lastly, we also have an earnings report next Monday which could bring more volatility to the stock.
I personally bought the stock today, and I'm looking to accumulate between 27.5 - 22.30.