The unaudited financial results for the three months ended June 30, 2022, showed that the firm managed to deliver 34,422 vehicles in Q2, an increase of 98% compared to the 17,398 delivered during the same period in 2021. Revenue came in at $1.11 billion, a 97.7% year-on-year (YoY) increase, beating estimates by $10 million. Meanwhile, earnings per share (EPS) were -$0.43, missing estimates by $0.10. Furthermore, for Q3, the company sees vehicle deliveries between 29,000 and 31,000 (13-20.8% increase) and revenue to come in between $0.99 billion and $1.05 billion (18.9-25.9% increase). At the time of writing, XPEV is down 2.86% in the premarket trading session.
XPEV chart and analysis
Over the past month, both the long and short-term trends are negative for XPEV, as the stock traded between $20.93 and $25.91. Currently, the shares are near the lower end of their 52-week range. Meanwhile, technical analysis shows a support line at $20.99 and a resistance line at $22.34. TipRanks analysts rate the shares a strong buy, with the average price in the next 12 months reaching $51.32, 144.38% higher than the current trading price of $21.00.
Accelerating growth
He Xiaopeng, Chairman and CEO of XPeng, stated that his firm is looking to produce vehicles in a new, middle, segment between $21,900 and $73,000 with an additional ramp-up of production. It seems as if XPeng has big plans, towards which they’re marching determinately, despite the XPEV being down 58.23% year-to-date (YTD). The only certainty, as it now stands, is that the firm will be a contender in the electric vehicle (EV) markets if they continue to produce and deliver its current and future EV models. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
