XPeng (NYSE:XPEV) Stock Price Expected to Rise, Bank of America Analyst Says

XPeng (NYSE:XPEV - Free Report) had its price target increased by Bank of America from $18.60 to $27.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on the company. China Renaissance raised XPeng from a "hold" rating to a "buy" rating and set a $16.70 price objective on the stock in a report on Friday, November 22nd. The Goldman Sachs Group cut shares of XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price objective for the company. in a research note on Thursday, November 21st. Sanford C. Bernstein lifted their price objective on shares of XPeng from $9.00 to $14.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 20th. Citigroup upgraded shares of XPeng from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $13.70 to $29.00 in a research note on Monday, March 10th. Finally, UBS Group upgraded shares of XPeng from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $8.80 to $18.00 in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $21.84.

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XPeng Stock Performance

Shares of NYSE XPEV traded down $0.27 during midday trading on Wednesday, hitting $21.81. 12,586,942 shares of the company's stock were exchanged, compared to its average volume of 13,199,864. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. XPeng has a 12 month low of $6.55 and a 12 month high of $27.16. The company's 50 day moving average price is $18.29 and its 200 day moving average price is $14.09. The firm has a market capitalization of $20.54 billion, a PE ratio of -25.06 and a beta of 2.68.

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

Hedge Funds Weigh In On XPeng

Several hedge funds and other institutional investors have recently made changes to their positions in XPEV. Advisors Asset Management Inc. raised its position in shares of XPeng by 48.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company's stock valued at $604,000 after buying an additional 16,289 shares in the last quarter. Citigroup Inc. grew its holdings in shares of XPeng by 14.2% during the 3rd quarter. Citigroup Inc. now owns 293,321 shares of the company's stock valued at $3,573,000 after purchasing an additional 36,560 shares during the last quarter. FMR LLC grew its holdings in shares of XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company's stock valued at $3,941,000 after purchasing an additional 295,536 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in shares of XPeng during the 3rd quarter valued at approximately $360,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of XPeng during the 3rd quarter valued at approximately $22,047,000. 21.09% of the stock is currently 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.