Hsbc Holdings PLC Sells 1,549,623 Shares of XPeng Inc. (NYSE:XPEV)

Hsbc Holdings PLC trimmed its position in XPeng Inc. (NYSE:XPEV - Free Report) by 81.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 359,724 shares of the company's stock after selling 1,549,623 shares during the quarter. Hsbc Holdings PLC's holdings in XPeng were worth $2,626,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Natixis bought a new position in shares of XPeng during the 1st quarter worth approximately $38,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of XPeng by 122.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company's stock valued at $39,000 after acquiring an additional 2,920 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of XPeng in the 4th quarter valued at $52,000. Blue Trust Inc. boosted its stake in shares of XPeng by 2,615.9% in the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company's stock valued at $75,000 after purchasing an additional 9,391 shares in the last quarter. Finally, 180 Wealth Advisors LLC bought a new stake in shares of XPeng in the 2nd quarter worth about $78,000. 23.05% of the stock is owned by institutional investors.

XPeng Trading Up 11.9 %

Shares of XPeng stock traded up $1.24 on Thursday, hitting $11.67. 25,934,316 shares of the company's stock traded hands, compared to its average volume of 13,002,753. The firm's 50-day moving average price is $8.08 and its two-hundred day moving average price is $8.11. 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 stock has a market capitalization of $10.99 billion, a PE ratio of -7.96 and a beta of 2.75. XPeng Inc. has a one year low of $6.55 and a one year high of $18.74.

XPeng (NYSE:XPEV - Get Free Report) last issued its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The company 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%. On average, research analysts expect that XPeng Inc. will post -0.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on XPEV shares. Citigroup reduced their price target on shares of XPeng from $8.30 to $7.60 and set a "neutral" rating on the stock in a research report on Wednesday, August 21st. Macquarie upgraded XPeng from a "neutral" rating to an "outperform" rating in a research report on Friday, August 30th. JPMorgan Chase & Co. upgraded shares of XPeng from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $8.00 to $11.50 in a research report on Thursday, September 5th. Finally, Bank of America decreased their price target on shares of XPeng from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, XPeng has an average rating of "Buy" and an average price target of $9.42.

About XPeng

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.