Point72 Hong Kong Ltd Buys New Holdings in XPeng Inc. (NYSE:XPEV)

Point72 Hong Kong Ltd acquired a new position in XPeng Inc. (NYSE:XPEV - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,810,097 shares of the company's stock, valued at approximately $22,047,000. XPeng comprises approximately 1.5% of Point72 Hong Kong Ltd's investment portfolio, making the stock its 11th largest holding. Point72 Hong Kong Ltd owned about 0.19% of XPeng at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in XPEV. Flow Traders U.S. LLC bought a new stake in XPeng during the third quarter worth $360,000. FMR LLC raised its position in XPeng by 1,053.8% in the 3rd quarter. FMR LLC now owns 323,581 shares of the company's stock valued at $3,941,000 after buying an additional 295,536 shares during the last quarter. Citigroup Inc. grew its holdings in XPeng by 14.2% during the third quarter. Citigroup Inc. now owns 293,321 shares of the company's stock valued at $3,573,000 after purchasing an additional 36,560 shares during the period. Advisors Asset Management Inc. increased its position in shares of XPeng by 48.9% during the third quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company's stock valued at $604,000 after buying an additional 16,289 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd increased its holdings in shares of XPeng by 36.0% in the 3rd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company's stock worth $4,969,000 after buying an additional 108,000 shares during the last quarter. Institutional investors and hedge funds own 23.05% of the company's stock.

XPeng Stock Up 1.2 %

XPEV stock traded up $0.14 during trading on Friday, reaching $12.05. The stock had a trading volume of 5,134,682 shares, compared to its average volume of 15,226,288. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of -13.85 and a beta of 2.80. XPeng Inc. has a one year low of $6.55 and a one year high of $17.17. The company's 50 day moving average is $12.07 and its two-hundred day moving average is $9.42.

Wall Street Analyst Weigh In

XPEV has been the subject of several recent research reports. Bank of America cut their price target on XPeng from $11.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, August 21st. The Goldman Sachs Group downgraded shares of XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price objective for the company. in a research note on Thursday, November 21st. China Renaissance upgraded shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 target price on the stock in a research report on Friday, November 22nd. Macquarie raised XPeng from a "neutral" rating to an "outperform" rating in a research report on Friday, August 30th. Finally, 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 report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, XPeng has a consensus rating of "Moderate Buy" and a consensus price target of $12.05.

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.