XPeng Inc. (NYSE:XPEV - Get Free Report)'s share price traded up 5.4% during mid-day trading on Wednesday . The company traded as high as $12.79 and last traded at $12.78. 8,350,914 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 13,415,304 shares. The stock had previously closed at $12.13.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on XPEV shares. Citigroup reduced their target price on XPeng from $8.30 to $7.60 and set a "neutral" rating for the company in a research note on Wednesday, August 21st. Macquarie upgraded XPeng from a "neutral" rating to an "outperform" rating in a research note on Friday, August 30th. JPMorgan Chase & Co. upgraded XPeng from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Finally, Bank of America reduced their price objective on XPeng from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $9.42.
Read Our Latest Stock Report on XPeng
XPeng Stock Performance
The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31. The firm has a fifty day simple moving average of $8.84 and a 200 day simple moving average of $8.29. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of -8.19 and a beta of 2.79.
XPeng (NYSE:XPEV - Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The firm had revenue of $1.12 billion during the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. On average, analysts anticipate that XPeng Inc. will post -0.95 earnings per share for the current fiscal year.
Hedge Funds Weigh In On XPeng
A number of institutional investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. lifted its position in XPeng by 122.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company's stock worth $39,000 after buying an additional 2,920 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in XPeng in the fourth quarter valued at $52,000. Signaturefd LLC raised its position in XPeng by 19.4% in the second quarter. Signaturefd LLC now owns 24,647 shares of the company's stock valued at $181,000 after purchasing an additional 4,002 shares during the period. Natixis purchased a new stake in XPeng in the first quarter valued at $38,000. Finally, Ballentine Partners LLC raised its position in XPeng by 47.0% in the first quarter. Ballentine Partners LLC now owns 19,933 shares of the company's stock valued at $153,000 after purchasing an additional 6,376 shares during the period. Hedge funds and other institutional investors own 23.05% of the company's stock.
About XPeng
(
Get 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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