XPeng (NYSE:XPEV) Cut to “Hold” at Daiwa America

XPeng (NYSE:XPEV) was downgraded by research analysts at Daiwa America from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms have also recently issued reports on XPEV. JPMorgan Chase & Co. decreased their price objective on shares of XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday. Daiwa Capital Markets reiterated a “neutral” rating and set a $24.00 price target on shares of XPeng in a research report on Wednesday. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target on the stock in a research report on Friday, November 22nd. Bank of America boosted their price target on shares of XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Nomura Securities upgraded shares of XPeng to a “strong-buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.84.

XPeng Stock Performance

NYSE XPEV opened at $22.07 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The company has a market capitalization of $20.79 billion, a P/E ratio of -25.36 and a beta of 2.68. The company has a fifty day moving average of $18.10 and a 200-day moving average of $13.92. XPeng has a 52-week low of $6.55 and a 52-week high of $27.16.

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

Institutional Investors Weigh In On XPeng

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alibaba Group Holding Ltd grew its holdings in XPeng by 21.2% in the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock worth $448,678,000 after purchasing an additional 6,650,000 shares during the period. TMT General Partner Ltd bought a new position in shares of XPeng in the fourth quarter worth approximately $205,501,000. JPMorgan Chase & Co. lifted its stake in shares of XPeng by 1,138.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock worth $54,354,000 after buying an additional 4,227,055 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of XPeng in the third quarter worth approximately $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of XPeng by 947.5% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock worth $20,800,000 after buying an additional 1,591,750 shares in the last quarter. Hedge funds and other institutional investors own 21.09% 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.