XPeng Inc. (NYSE:XPEV) Given Average Rating of “Buy” by Brokerages

Shares of XPeng Inc. (NYSE:XPEV) have been assigned a consensus rating of “Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $12.08.

Several analysts have recently weighed in on XPEV shares. Citigroup reduced their price objective on shares of XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and upped their target price for the company from $8.00 to $11.50 in a report on Thursday, September 5th. Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Daiwa America raised XPeng to a “strong-buy” rating in a report on Thursday, May 23rd. Finally, 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 report on Thursday, May 23rd.

XPeng Stock Performance

NYSE XPEV opened at $8.97 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18. The stock has a market cap of $8.45 billion, a PE ratio of -6.06 and a beta of 2.75. The stock has a fifty day simple moving average of $7.88 and a 200-day simple moving average of $8.10. XPeng has a twelve month low of $6.55 and a twelve month high of $18.74.

XPeng (NYSE:XPEV) last released its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. The firm had revenue of $1.12 billion during the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. Equities analysts anticipate that XPeng will post -0.95 earnings per share for the current year.

Institutional Trading of XPeng

A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in XPeng during the fourth quarter worth about $41,993,000. Bank of Montreal Can lifted its position 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 worth $31,910,000 after purchasing an additional 2,724,549 shares in the last quarter. Electron Capital Partners LLC purchased a new position in shares of XPeng in the fourth quarter valued at $26,047,000. Primecap Management Co. CA grew its holdings in XPeng by 5.6% during the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after purchasing an additional 872,160 shares in the last quarter. Finally, Point72 Europe London LLP purchased a new stake in XPeng during the 2nd quarter worth $5,923,000. 23.05% of the stock is owned by institutional investors and hedge funds.

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.