Analysts Set XPeng Inc. (NYSE:XPEV) Price Target at $12.05

Shares of XPeng Inc. (NYSE:XPEV - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine brokerages that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $12.05.

Several brokerages have issued reports on XPEV. Sanford C. Bernstein lifted their price target on XPeng from $9.00 to $14.00 and gave the stock a "market perform" rating in a research note on Wednesday. JPMorgan Chase & Co. raised XPeng from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. China Renaissance raised shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 price target on the stock in a research note on Friday. Macquarie upgraded shares of XPeng from a "neutral" rating to an "outperform" rating in a report on Friday, August 30th. Finally, Bank of America reduced their target price on shares of XPeng from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, August 21st.

Institutional Investors Weigh In On XPeng

Several institutional investors and hedge funds have recently bought and sold shares of XPEV. Natixis bought a new position in shares of XPeng in the 1st quarter worth approximately $38,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of XPeng by 122.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company's stock worth $39,000 after acquiring an additional 2,920 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of XPeng in the 3rd quarter worth approximately $45,000. Blue Trust Inc. raised its position in shares of XPeng by 2,615.9% in the 2nd 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 bought a new position in shares of XPeng in the 2nd quarter worth approximately $78,000. Hedge funds and other institutional investors own 23.05% of the company's stock.

XPeng Price Performance

Shares of XPeng stock traded down $0.38 on Friday, hitting $11.91. 14,769,303 shares of the company traded hands, compared to its average volume of 16,382,299. XPeng has a 12-month low of $6.55 and a 12-month high of $18.74. The firm's 50-day simple moving average is $11.81 and its 200 day simple moving average is $9.30. The company has a market cap of $11.22 billion, a P/E ratio of -13.69 and a beta of 2.80. The company has a current ratio of 1.37, a quick ratio of 1.31 and a debt-to-equity ratio of 0.22.

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.