Virtu Financial LLC Acquires New Position in XPeng Inc. (NYSE:XPEV)

Virtu Financial LLC purchased a new position in XPeng Inc. (NYSE:XPEV - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 75,092 shares of the company's stock, valued at approximately $915,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Primecap Management Co. CA boosted its position 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 worth $120,369,000 after buying an additional 872,160 shares during the period. Bank of Montreal Can boosted its position in XPeng by 212.1% during the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company's stock worth $31,910,000 after acquiring an additional 2,724,549 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of XPeng in the third quarter worth $22,047,000. Point72 Europe London LLP bought a new position in shares of XPeng in the second quarter worth $5,923,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of XPeng during the third quarter valued at $6,233,000. Institutional investors and hedge funds own 21.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on XPEV shares. JPMorgan Chase & Co. raised shares of XPeng from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $8.00 to $11.50 in a report on Thursday, September 5th. China Renaissance upgraded shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 price objective for the company in a report on Friday, November 22nd. Sanford C. Bernstein boosted their target price on XPeng from $9.00 to $14.00 and gave the stock a "market perform" rating in a report on Wednesday, November 20th. Macquarie upgraded XPeng from a "neutral" rating to an "outperform" rating in a research report on Friday, August 30th. Finally, Citigroup lowered their price target on XPeng from $14.60 to $13.70 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.69.

XPeng Stock Performance

XPEV stock traded down $0.51 during mid-day trading on Friday, reaching $12.30. 9,744,204 shares of the stock traded hands, compared to its average volume of 12,111,084. XPeng Inc. has a 52-week low of $6.55 and a 52-week high of $16.28. The stock's fifty day moving average is $12.27 and its 200-day moving average is $9.73. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

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.