Macquarie upgraded shares of XPeng (NYSE:XPEV – Free Report) from a neutral rating to an outperform rating in a report published on Friday morning, MarketBeat reports.
Other equities analysts have also issued research reports about the stock. Daiwa Capital Markets upgraded shares of XPeng from a neutral rating to a buy rating and set a $11.00 target price on the stock in a report on Thursday, May 23rd. JPMorgan Chase & Co. cut their price target on XPeng from $9.00 to $8.00 and set a neutral rating on the stock in a report on Wednesday, August 21st. Daiwa America upgraded shares of XPeng to a strong-buy rating in a research note on Thursday, May 23rd. Citigroup cut their target price on shares of 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 shares of XPeng from $11.00 to $10.00 and set a buy rating on the stock in a report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $11.50.
Read Our Latest Report on XPEV
XPeng Stock Performance
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in XPEV. Norges Bank purchased a new position in XPeng in the fourth quarter worth $41,993,000. Bank of Montreal Can raised its stake in shares of XPeng by 212.1% during the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock worth $31,910,000 after purchasing an additional 2,724,549 shares during the period. Electron Capital Partners LLC purchased a new position in shares of XPeng in the 4th quarter worth about $26,047,000. Primecap Management Co. CA grew its position in XPeng by 5.6% during the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after buying an additional 872,160 shares during the period. Finally, Point72 Europe London LLP bought a new position in XPeng during the second quarter valued at about $5,923,000. 23.05% of the stock is owned by institutional investors.
XPeng Company Profile
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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