XPeng Inc. (NYSE:XPEV) Position Cut by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in XPeng Inc. (NYSE:XPEV - Free Report) by 41.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,048 shares of the company's stock after selling 27,172 shares during the period. SG Americas Securities LLC's holdings in XPeng were worth $462,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of XPEV. TMT General Partner Ltd purchased a new position in shares of XPeng in the 4th quarter worth about $205,501,000. Point72 Hong Kong Ltd purchased a new position in shares of XPeng during the third quarter valued at about $22,047,000. Y Intercept Hong Kong Ltd bought a new position in shares of XPeng in the 3rd quarter worth approximately $6,233,000. FMR LLC boosted its holdings in shares of XPeng by 1,053.8% during 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 in the last quarter. Finally, Renaissance Technologies LLC bought a new position in XPeng during the 2nd quarter valued at approximately $1,006,000. Institutional investors and hedge funds own 21.09% of the company's stock.

XPeng Trading Down 2.7 %

Shares of XPEV stock traded down $0.45 on Wednesday, hitting $16.54. The stock had a trading volume of 8,499,926 shares, compared to its average volume of 10,412,366. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The firm has a market capitalization of $15.58 billion, a P/E ratio of -19.01 and a beta of 2.77. The company's 50 day moving average price is $13.16 and its 200-day moving average price is $11.14. XPeng Inc. has a 1 year low of $6.55 and a 1 year high of $17.30.

Analyst Upgrades and Downgrades

XPEV has been the topic of several research analyst reports. China Renaissance raised XPeng from a "hold" rating to a "buy" rating and set a $16.70 price target on the stock in a report on Friday, November 22nd. Citigroup lowered their target price on XPeng from $14.60 to $13.70 and set a "neutral" rating for the company in a research report on Wednesday, November 20th. The Goldman Sachs Group downgraded shares of XPeng from a "buy" rating to a "neutral" rating and set a $12.50 target price on the stock. in a research note on Thursday, November 21st. Sanford C. Bernstein increased their target price on XPeng from $9.00 to $14.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 20th. Finally, UBS Group reiterated a "sell" rating and issued a $8.80 target price (up from $8.20) on shares of XPeng in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $11.69.

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.