Point72 Europe London LLP Acquires Shares of 808,100 XPeng Inc. (NYSE:XPEV)

Point72 Europe London LLP acquired a new position in shares of XPeng Inc. (NYSE:XPEV - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 808,100 shares of the company's stock, valued at approximately $5,923,000. Point72 Europe London LLP owned 0.09% of XPeng as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of XPEV. Norges Bank purchased a new position in XPeng during the 4th quarter worth $41,993,000. Bank of Montreal Can boosted its position in XPeng by 212.1% during the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company's stock valued at $31,910,000 after acquiring an additional 2,724,549 shares in the last quarter. Electron Capital Partners LLC bought a new stake in XPeng during the 4th quarter valued at $26,047,000. Primecap Management Co. CA boosted its position in XPeng by 5.6% during the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company's stock valued at $120,369,000 after acquiring an additional 872,160 shares in the last quarter. Finally, Ghisallo Capital Management LLC bought a new stake in XPeng during the 4th quarter valued at $9,537,000. 23.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup dropped their target price on XPeng from $8.30 to $7.60 and set a "neutral" 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. JPMorgan Chase & Co. raised 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 report on Thursday, September 5th. Finally, Bank of America lowered their price objective on XPeng from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, XPeng has an average rating of "Buy" and a consensus target price of $9.42.

XPeng Stock Down 2.4 %

Shares of XPeng stock traded down $0.26 during trading on Wednesday, reaching $10.44. The company's stock had a trading volume of 13,974,886 shares, compared to its average volume of 12,932,591. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The company has a market cap of $9.83 billion, a price-to-earnings ratio of -6.82 and a beta of 2.75. XPeng Inc. has a 1-year low of $6.55 and a 1-year high of $18.74. The company has a 50-day simple moving average of $8.04 and a two-hundred day simple moving average of $8.10.

XPeng (NYSE:XPEV - Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. The firm had revenue of $1.12 billion for the quarter. As a group, equities analysts forecast that XPeng Inc. will post -0.95 earnings per share for the current year.

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.