Harvest Fund Management Co. Ltd Acquires Shares of 82,000 XPeng Inc. (NYSE:XPEV)

Harvest Fund Management Co. Ltd bought a new stake in shares of XPeng Inc. (NYSE:XPEV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 82,000 shares of the company's stock, valued at approximately $970,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company's stock worth $30,000 after acquiring an additional 898 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company's stock valued at $33,000 after purchasing an additional 2,564 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of XPeng by 50.7% in the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company's stock valued at $40,000 after purchasing an additional 1,138 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in XPeng in the 4th quarter worth approximately $41,000. Finally, Compagnie Lombard Odier SCmA grew its position in XPeng by 1,703.3% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 8,115 shares of the company's stock worth $96,000 after purchasing an additional 7,665 shares during the last quarter. Hedge funds and other institutional investors own 21.09% of the company's stock.

XPeng Stock Performance

NYSE:XPEV traded down $0.43 during trading hours on Tuesday, reaching $20.96. The company had a trading volume of 10,673,930 shares, compared to its average volume of 13,192,745. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. XPeng Inc. has a 1-year low of $6.55 and a 1-year high of $27.16. The business's 50 day moving average price is $18.48 and its 200-day moving average price is $14.18. The firm has a market cap of $19.74 billion, a PE ratio of -24.09 and a beta of 2.68.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on XPEV. Nomura raised shares of 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 report on Wednesday, March 19th. UBS Group upgraded XPeng from a "sell" rating to a "neutral" rating and raised their target price for the stock from $8.80 to $18.00 in a research note on Monday, February 24th. Daiwa America downgraded XPeng from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Macquarie reissued a "neutral" rating and issued a $18.00 price objective on shares of XPeng in a report on Friday, February 7th. Finally, Daiwa Capital Markets reaffirmed a "neutral" rating and set a $24.00 target price on shares of XPeng in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $21.84.

XPeng Company 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.