XPeng (NYSE:XPEV) Upgraded by Nomura Securities to Strong-Buy Rating

XPeng (NYSE:XPEV) was upgraded by Nomura Securities to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other brokerages also recently weighed in on XPEV. Daiwa Capital Markets restated a “neutral” rating and set a $24.00 target price on shares of XPeng in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on XPeng from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday. Nomura upgraded XPeng from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $30.00 in a research note on Wednesday. UBS Group upgraded XPeng from a “sell” rating to a “neutral” rating and increased their target price for the company from $8.80 to $18.00 in a research note on Monday, February 24th. Finally, Bank of America upped their price target on XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, XPeng presently has an average rating of “Moderate Buy” and an average price target of $22.02.

XPeng Stock Performance

XPEV opened at $23.80 on Tuesday. The company has a market cap of $22.42 billion, a PE ratio of -27.35 and a beta of 2.68. The stock has a 50-day moving average of $17.90 and a 200-day moving average of $13.86. XPeng has a 52-week low of $6.55 and a 52-week high of $27.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

XPeng (NYSE:XPEV) last announced its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($1.36) by $1.17. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $16.11 billion. As a group, equities research analysts forecast that XPeng will post -0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XPeng

A number of hedge funds have recently modified their holdings of XPEV. EverSource Wealth Advisors LLC raised its holdings in shares of XPeng by 55.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after buying an additional 898 shares in the last quarter. Avior Wealth Management LLC increased its holdings in XPeng by 1,215.2% during the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after purchasing an additional 2,564 shares in the last quarter. Lindbrook Capital LLC increased its holdings in XPeng by 50.7% during the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock valued at $40,000 after purchasing an additional 1,138 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in XPeng during the 4th quarter valued at $41,000. Finally, Natixis acquired a new stake in XPeng during the 4th quarter valued at $43,000. 21.09% 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.