XPeng Inc. (NYSE:XPEV – Get Free Report)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $7.01, but opened at $7.39. XPeng shares last traded at $7.45, with a volume of 5,610,566 shares.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on XPEV. Daiwa Capital Markets raised XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Thursday, May 23rd. Daiwa America upgraded XPeng to a “strong-buy” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. dropped their price objective on XPeng from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. Citigroup dropped their price objective on XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. Finally, Bank of America dropped their price objective on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.50.
Get Our Latest Research Report on XPEV
XPeng Price Performance
Institutional Trading of XPeng
Hedge funds have recently added to or reduced their stakes in the business. Natixis acquired a new stake in shares of XPeng in the 1st quarter valued at about $38,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of XPeng by 122.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after acquiring an additional 2,920 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of XPeng in the 4th quarter valued at about $52,000. Blue Trust Inc. grew its holdings in shares of XPeng by 2,615.9% in the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after acquiring an additional 9,391 shares in the last quarter. Finally, 180 Wealth Advisors LLC bought a new position in shares of XPeng in the 2nd quarter valued at about $78,000. Institutional investors and hedge funds own 23.05% 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.
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