Bank of Montreal Can Boosts Holdings in XPeng Inc. (NYSE:XPEV)

Bank of Montreal Can boosted its stake in XPeng Inc. (NYSE:XPEV - Free Report) by 212.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,008,846 shares of the company's stock after purchasing an additional 2,724,549 shares during the period. Bank of Montreal Can owned about 0.43% of XPeng worth $31,910,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sei Investments Co. grew its holdings in XPeng by 83.0% during the 1st quarter. Sei Investments Co. now owns 129,400 shares of the company's stock worth $994,000 after acquiring an additional 58,700 shares during the period. Norges Bank acquired a new stake in XPeng during the 4th quarter worth about $41,993,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in XPeng by 35.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company's stock worth $7,516,000 after acquiring an additional 257,300 shares during the period. Electron Capital Partners LLC acquired a new stake in shares of XPeng in the 4th quarter valued at about $26,047,000. Finally, Van ECK Associates Corp grew its stake in shares of XPeng by 17.6% in the 1st quarter. Van ECK Associates Corp now owns 232,428 shares of the company's stock valued at $1,785,000 after buying an additional 34,788 shares during the period. 23.05% of the stock is currently owned by institutional investors and hedge funds.

XPeng Trading Up 8.9 %

NYSE XPEV traded up $1.04 during trading on Friday, hitting $12.71. 24,997,092 shares of the company's stock traded hands, compared to its average volume of 13,067,819. The stock has a fifty day moving average of $8.15 and a two-hundred day moving average of $8.14. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31. XPeng Inc. has a 12-month low of $6.55 and a 12-month high of $18.74. The firm has a market cap of $11.97 billion, a P/E ratio of -8.37 and a beta of 2.75.

XPeng (NYSE:XPEV - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.12 billion during the quarter. As a group, sell-side analysts expect that XPeng Inc. will post -0.95 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on XPEV shares. Bank of America reduced their target price on XPeng from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, August 21st. JPMorgan Chase & Co. upgraded XPeng from a "neutral" rating to an "overweight" rating and raised their target price for the company from $8.00 to $11.50 in a research note on Thursday, September 5th. Macquarie upgraded XPeng from a "neutral" rating to an "outperform" rating in a research note on Friday, August 30th. Finally, 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. One 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus 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.