Van ECK Associates Corp Has $3 Million Stock Position in XPeng Inc. (NYSE:XPEV)

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

Other hedge funds also recently modified their holdings of the company. Avior Wealth Management LLC lifted its position in shares of XPeng by 1,215.2% in 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 during the period. Golden State Wealth Management LLC bought a new stake in shares of XPeng in the 4th quarter worth approximately $41,000. Allspring Global Investments Holdings LLC bought a new stake in shares of XPeng in the 3rd quarter worth approximately $45,000. Venturi Wealth Management LLC bought a new stake in shares of XPeng in the 3rd quarter worth approximately $110,000. Finally, Sequoia Financial Advisors LLC lifted its position in shares of XPeng by 24.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company's stock worth $163,000 after acquiring an additional 2,609 shares during the period. Institutional investors own 21.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. UBS Group reissued 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. Macquarie reissued a "neutral" rating and issued a $18.00 target price on shares of XPeng in a report on Friday, February 7th. China Renaissance raised XPeng from a "hold" rating to a "buy" rating and set a $16.70 target price for the company in a report on Friday, November 22nd. Citigroup dropped their target price on XPeng from $14.60 to $13.70 and set a "neutral" rating for the company in a report on Wednesday, November 20th. Finally, 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 report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, XPeng has a consensus rating of "Moderate Buy" and a consensus price target of $12.91.

XPeng Price Performance

XPEV stock traded up $0.71 during midday trading on Friday, reaching $18.41. 13,839,776 shares of the company's stock traded hands, compared to its average volume of 10,847,358. The company has a 50-day simple moving average of $14.15 and a two-hundred day simple moving average of $11.82. XPeng Inc. has a 1-year low of $6.55 and a 1-year high of $19.36. The company has a market cap of $17.34 billion, a price-to-earnings ratio of -21.15 and a beta of 2.77. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

XPeng 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.