XPeng (NYSE:XPEV – Free Report) The price target was cut by Citigroup from $8.30 to $7.60 in a research report published on Wednesday, Benzinga reports. Citigroup currently has a neutral rating on the stock.
A number of other brokerage firms also recently commented on XPEV. JPMorgan Chase & Co. lowered their price target on XPeng shares from $9.00 to $8.00 and gave the stock a neutral rating in a research note on Wednesday. Daiwa Capital Markets upgraded XPeng shares from a neutral rating to a buy rating and gave the stock a $11.00 price target in a research report on Thursday, May 23. Bank of America lowered their price target on XPeng shares from $11.00 to $10.00 and gave the stock a buy rating in a research report on Wednesday. Finally, Daiwa America upgraded XPeng shares to a strong buy rating in a research report on Thursday, May 23. One analyst rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $11.00.
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XPeng trading rises 4.4%
Shares of XPEV opened at $7.07 on Wednesday. The company’s 50-day moving average is $7.73 and its 200-day moving average is $8.19. The company has a market cap of $6.66 billion, a P/E ratio of -4.77 and a beta of 2.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.32. XPeng has a 1-year low of $6.55 and a 1-year high of $19.96.
XPeng (NYSE:XPEV – Get Free Report) last announced its earnings results on Tuesday, May 21. The company reported earnings per share of ($0.20) for the quarter. The company posted revenue of $906.90 million during the quarter. XPeng had a negative net margin of 28.16% and a negative return on equity of 28.16%. Sell-side analysts forecast that XPeng will report earnings per share of -$0.91 for the current fiscal year.
Institutional inflows and outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Scarborough Advisors LLC bought a new position in shares of XPeng in the fourth quarter valued at about $52,000. Natixis bought a new position in shares of XPeng in the first quarter valued at about $38,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of XPeng by 122.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after buying an additional 2,920 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of XPeng by 2,615.9% in the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after buying an additional 9,391 shares in the last quarter. Finally, Caas Capital Management LP bought a new position in shares of XPeng during the fourth quarter valued at approximately $153,000. Institutional investors own 23.05% of the company’s shares.
XPeng Company Profile
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XPeng Inc. designs, develops, manufactures and markets smart electric vehicles (EVs) in the People’s Republic of China. It offers SUVs under the names G3, G3i and G9, four-door sports sedans under the names P7 and P7i, and family sedans under the name P5. The company also offers sales contracts, superchargers, maintenance, technical support, auto financing, insurance, technical support, ride-sharing, auto loan brokerage and other services, as well as vehicle leasing and insurance brokerage.
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