Renaissance Technologies LLC Buys Shares of 137,200 XPeng Inc. (NYSE:XPEV)

Renaissance Technologies LLC purchased a new position in shares of XPeng Inc. (NYSE:XPEV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 137,200 shares of the company's stock, valued at approximately $1,006,000.

A number of other hedge funds also recently made changes to their positions in XPEV. Natixis acquired a new position in shares of XPeng in the 1st quarter valued at about $38,000. 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 valued at $39,000 after buying an additional 2,920 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in XPeng during the fourth quarter worth approximately $52,000. Blue Trust Inc. increased its position in shares of XPeng by 2,615.9% in the second quarter. Blue Trust Inc. now owns 9,750 shares of the company's stock worth $75,000 after acquiring an additional 9,391 shares in the last quarter. Finally, 180 Wealth Advisors LLC purchased a new position in shares of XPeng in the 2nd quarter valued at $78,000. Institutional investors and hedge funds own 23.05% of the company's stock.

XPeng Stock Up 2.1 %

XPEV stock traded up $0.27 during midday trading on Monday, hitting $13.08. 24,289,636 shares of the company's stock were exchanged, compared to its average volume of 13,423,267. The firm has a 50 day moving average price of $8.66 and a 200-day moving average price of $8.24. XPeng Inc. has a 12-month low of $6.55 and a 12-month high of $18.74. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of -8.91 and a beta of 2.79. The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV - Get Free Report) last released its quarterly 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 for 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 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on XPEV. Bank of America decreased their price target on shares of XPeng from $11.00 to $10.00 and set a "buy" rating for the company in a research report 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 report on Thursday, September 5th. Macquarie upgraded XPeng from a "neutral" rating to an "outperform" rating in a report on Friday, August 30th. Finally, Citigroup dropped their price objective on shares of XPeng from $8.30 to $7.60 and set a "neutral" rating on the stock in a research note 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price 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.