Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of XPeng Inc. (NYSE:XPEV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 46,900 shares of the company's stock, valued at approximately $554,000.
Other large investors also recently made changes to their positions in the company. TMT General Partner Ltd acquired a new position in XPeng in the 4th quarter valued at $205,501,000. Point72 Hong Kong Ltd bought a new stake in shares of XPeng in the third quarter valued at about $22,047,000. Y Intercept Hong Kong Ltd acquired a new position in shares of XPeng in the third quarter valued at about $6,233,000. FMR LLC grew its stake in shares of XPeng by 1,053.8% in the third quarter. FMR LLC now owns 323,581 shares of the company's stock valued at $3,941,000 after acquiring an additional 295,536 shares in the last quarter. Finally, Citigroup Inc. increased its position in XPeng by 14.2% during the third quarter. Citigroup Inc. now owns 293,321 shares of the company's stock worth $3,573,000 after acquiring an additional 36,560 shares during the period. Institutional investors own 21.09% of the company's stock.
Analysts Set New Price Targets
XPEV has been the subject of a number of recent research reports. Citigroup raised shares of XPeng from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $13.70 to $29.00 in a report on Monday, March 10th. UBS Group upgraded XPeng from a "sell" rating to a "neutral" rating and boosted their price target for the company from $8.80 to $18.00 in a research note on Monday, February 24th. Barclays raised their price objective on XPeng from $7.00 to $20.00 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. cut their target price on XPeng from $35.00 to $31.00 and set an "overweight" rating for the company in a research report on Wednesday, March 19th. Finally, Nomura upgraded XPeng from a "neutral" rating to a "buy" rating and raised their price target for the stock from $14.00 to $30.00 in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $22.20.
Check Out Our Latest Analysis on XPeng
XPeng Trading Down 1.4 %
Shares of XPEV stock traded down $0.30 during mid-day trading on Wednesday, reaching $20.72. 6,542,885 shares of the stock traded hands, compared to its average volume of 13,163,238. The stock's fifty day simple moving average is $18.65 and its two-hundred day simple moving average is $14.27. XPeng Inc. has a 1-year low of $6.55 and a 1-year high of $27.16. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The company has a market cap of $19.51 billion, a price-to-earnings ratio of -23.81 and a beta of 2.68.
XPeng (NYSE:XPEV - Get Free Report) last posted its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($1.36) by $1.17. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $16.11 billion. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. On average, research analysts anticipate that XPeng Inc. will post -0.96 EPS for the current fiscal year.
About XPeng
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Free Report)
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.
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