Van ECK Associates Corp Acquires 31,538 Shares of XPeng Inc. (NYSE:XPEV)

Van ECK Associates Corp boosted its stake in shares of XPeng Inc. (NYSE:XPEV - Free Report) by 14.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 253,875 shares of the company's stock after buying an additional 31,538 shares during the period. Van ECK Associates Corp's holdings in XPeng were worth $3,001,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Avior Wealth Management LLC grew its stake in shares of XPeng by 1,215.2% during the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company's stock worth $33,000 after acquiring an additional 2,564 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of XPeng during the 4th quarter worth approximately $41,000. Allspring Global Investments Holdings LLC bought a new position in shares of XPeng during the 3rd quarter worth approximately $45,000. Venturi Wealth Management LLC bought a new position in shares of XPeng in the third quarter valued at $110,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of XPeng by 24.3% in the third quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company's stock valued at $163,000 after buying an additional 2,609 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

XPEV has been the subject of several analyst reports. Macquarie reissued a "neutral" rating and issued a $18.00 target price on shares of XPeng in a research note on Friday, February 7th. Citigroup decreased their target price on shares of XPeng from $14.60 to $13.70 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. Sanford C. Bernstein lifted their price objective on shares of XPeng from $9.00 to $14.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th. The Goldman Sachs Group cut shares of XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price objective for the company. in a research report on Thursday, November 21st. Finally, China Renaissance raised shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 price objective for the company in a research report on Friday, November 22nd. Five investment analysts have 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 company presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.93.

XPeng Stock Performance

Shares of XPEV traded down $0.25 during midday trading on Monday, reaching $18.15. 9,244,828 shares of the stock were exchanged, compared to its average volume of 10,802,523. XPeng Inc. has a twelve month low of $6.55 and a twelve month high of $19.36. 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 cap of $17.09 billion, a P/E ratio of -20.86 and a beta of 2.77. The stock's 50 day simple moving average is $14.38 and its 200 day simple moving average is $12.04.

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.