Bank of Montreal Can Decreases Stock Position in XPeng Inc. (NYSE:XPEV)

Bank of Montreal Can lessened its stake in shares of XPeng Inc. (NYSE:XPEV - Free Report) by 21.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,131,211 shares of the company's stock after selling 877,635 shares during the period. Bank of Montreal Can owned approximately 0.33% of XPeng worth $39,829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. grew its position in XPeng by 122.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company's stock valued at $39,000 after acquiring an additional 2,920 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in XPeng in the 3rd quarter valued at $45,000. Blue Trust Inc. grew its position in XPeng by 2,615.9% in the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company's stock valued at $75,000 after acquiring an additional 9,391 shares during the last quarter. 180 Wealth Advisors LLC bought a new position in XPeng in the 2nd quarter valued at $78,000. Finally, Venturi Wealth Management LLC bought a new position in XPeng in the 3rd quarter valued at $110,000. Hedge funds and other institutional investors own 23.05% of the company's stock.

XPeng Stock Up 1.2 %

XPEV stock traded up $0.14 during trading on Friday, reaching $12.05. 5,098,276 shares of the company traded hands, compared to its average volume of 13,666,149. XPeng Inc. has a 12 month low of $6.55 and a 12 month high of $17.17. The business has a 50 day simple moving average of $12.02 and a 200 day simple moving average of $9.38. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup cut their price objective on XPeng from $14.60 to $13.70 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. Bank of America dropped their price target on XPeng from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, August 21st. Macquarie raised XPeng from a "neutral" rating to an "outperform" rating in a research report on Friday, August 30th. Sanford C. Bernstein increased their price target on XPeng from $9.00 to $14.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised XPeng from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $8.00 to $11.50 in a research report on Thursday, September 5th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.05.

XPeng Profile

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.