XPeng Inc. (NYSE:XPEV) Short Interest Down 17.2% in August

XPeng Inc. (NYSE:XPEV - Get Free Report) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 41,670,000 shares, a decrease of 17.2% from the August 15th total of 50,320,000 shares. Based on an average daily trading volume, of 11,150,000 shares, the days-to-cover ratio is presently 3.7 days.

Wall Street Analyst Weigh In

XPEV has been the subject of several research analyst reports. Macquarie raised XPeng from a "neutral" rating to an "outperform" rating in a research report on Friday, August 30th. Daiwa America upgraded XPeng to a "strong-buy" rating in a report on Thursday, May 23rd. Bank of America reduced their price objective on shares of XPeng from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, August 21st. JPMorgan Chase & Co. upgraded shares of XPeng from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Finally, Daiwa Capital Markets upgraded shares of XPeng from a "neutral" rating to a "buy" rating and set a $11.00 price target for the company in a report on Thursday, May 23rd. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $12.08.

XPeng Stock Up 4.1 %

Shares of XPEV traded up $0.35 during trading hours on Friday, reaching $8.97. The stock had a trading volume of 9,128,893 shares, compared to its average volume of 12,441,067. The firm has a 50-day simple moving average of $7.88 and a 200 day simple moving average of $8.10. XPeng has a 12 month low of $6.55 and a 12 month high of $18.74. The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of -6.06 and a beta of 2.75.

XPeng (NYSE:XPEV - Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. The business had revenue of $1.12 billion for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. Equities research analysts predict that XPeng will post -0.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XPeng

Several large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in XPeng during the 4th quarter valued at $41,993,000. Bank of Montreal Can lifted its position in shares of XPeng by 212.1% during the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company's stock valued at $31,910,000 after purchasing an additional 2,724,549 shares in the last quarter. Electron Capital Partners LLC purchased a new position in XPeng during the fourth quarter worth about $26,047,000. Primecap Management Co. CA grew its position in XPeng by 5.6% in the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company's stock worth $120,369,000 after purchasing an additional 872,160 shares in the last quarter. Finally, Point72 Europe London LLP purchased a new stake in XPeng in the 2nd quarter valued at about $5,923,000. Institutional investors own 23.05% of the company's stock.

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.