Millennium Management LLC Has $67.89 Million Holdings in XPeng Inc. (NYSE:XPEV)

Millennium Management LLC lessened its stake in shares of XPeng Inc. (NYSE:XPEV - Free Report) by 15.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,261,406 shares of the company's stock after selling 1,753,166 shares during the period. Millennium Management LLC owned 0.98% of XPeng worth $67,886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capstone Investment Advisors LLC purchased a new stake in shares of XPeng during the 4th quarter valued at approximately $360,000. Ghisallo Capital Management LLC acquired a new stake in XPeng in the 4th quarter valued at approximately $9,537,000. Robeco Schweiz AG boosted its position in shares of XPeng by 3.8% during the fourth quarter. Robeco Schweiz AG now owns 2,336,330 shares of the company's stock worth $34,087,000 after buying an additional 85,000 shares during the period. Caas Capital Management LP purchased a new position in XPeng during the 4th quarter valued at about $153,000. Finally, Scarborough Advisors LLC acquired a new position in shares of XPeng in the fourth quarter valued at approximately $52,000. 23.05% of the stock is owned by hedge funds and other institutional investors.

XPeng Stock Down 4.5 %

NYSE:XPEV traded down $0.57 during mid-day trading on Monday, reaching $12.15. The stock had a trading volume of 29,911,949 shares, compared to its average volume of 13,157,939. 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's 50 day simple moving average is $8.23 and its two-hundred day simple moving average is $8.13. XPeng Inc. has a 1-year low of $6.55 and a 1-year high of $18.74. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of -8.59 and a beta of 2.75.

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

Analyst Upgrades and Downgrades

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

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.