XPeng (NYSE:XPEV) Rating Increased to Buy at China Renaissance

China Renaissance upgraded shares of XPeng (NYSE:XPEV) from a hold rating to a buy rating in a research report report published on Friday, MarketBeat.com reports. China Renaissance currently has $16.70 target price on the stock.

A number of other research firms also recently weighed in on XPEV. Citigroup cut their price target on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research note on Wednesday. Bank of America lowered their price target on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. The Goldman Sachs Group lowered shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective for the company. in a report on Thursday. Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Finally, JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $8.00 to $11.50 in a report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.05.

XPeng Price Performance

XPeng stock opened at $11.92 on Friday. The company has a fifty day simple moving average of $11.81 and a 200-day simple moving average of $9.28. XPeng has a 12-month low of $6.55 and a 12-month high of $18.74. The company has a quick ratio of 1.31, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

XPeng (NYSE:XPEV) last announced its earnings results on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. The business had revenue of $1.12 billion during the quarter. Research analysts expect that XPeng will post -0.97 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Primecap Management Co. CA raised its holdings in shares of 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 acquiring an additional 872,160 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of XPeng by 212.1% during the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after purchasing an additional 2,724,549 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of XPeng during the third quarter valued at $22,047,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of XPeng by 100.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after purchasing an additional 550,000 shares in the last quarter. Finally, Point72 Europe London LLP bought a new position in XPeng in the second quarter valued at about $5,923,000. Institutional investors own 23.05% of the company’s stock.

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.