XPeng (NYSE:XPEV) Upgraded to Buy at China Renaissance

XPeng (NYSE:XPEV - Get Free Report) was upgraded by equities researchers at China Renaissance from a "hold" rating to a "buy" rating in a report released on Friday, Marketbeat Ratings reports. The brokerage currently has a $16.70 price target on the stock. China Renaissance's price target indicates a potential upside of 40.22% from the company's previous close.

A number of other analysts also recently issued reports on XPEV. Citigroup lowered their price target on XPeng from $14.60 to $13.70 and set a "neutral" rating for the company in a research report on Wednesday. Sanford C. Bernstein upped their price target on shares of XPeng from $9.00 to $14.00 and gave the company a "market perform" rating in a report on Wednesday. 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. Bank of America cut their target price on XPeng from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, August 21st. Finally, Macquarie raised XPeng from a "neutral" rating to an "outperform" rating in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, XPeng presently has an average rating of "Moderate Buy" and an average target price of $12.05.

XPeng Stock Performance

Shares of XPEV traded down $0.38 on Friday, reaching $11.91. The company's stock had a trading volume of 14,708,693 shares, compared to its average volume of 13,738,927. XPeng has a 12-month low of $6.55 and a 12-month high of $18.74. The stock has a market capitalization of $11.22 billion, a P/E ratio of -14.10 and a beta of 2.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31. The stock's 50 day simple moving average is $11.75 and its two-hundred day simple moving average is $9.26.

XPeng (NYSE:XPEV - Get Free Report) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.63%. The company had revenue of $1.12 billion for the quarter. Research analysts forecast that XPeng will post -0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of XPEV. Virtu Financial LLC acquired a new stake in shares of XPeng in the third quarter worth $915,000. Y Intercept Hong Kong Ltd acquired a new stake in XPeng in the 3rd quarter valued at $6,233,000. Quantinno Capital Management LP raised its position in XPeng by 99.2% in the third quarter. Quantinno Capital Management LP now owns 27,153 shares of the company's stock valued at $331,000 after purchasing an additional 13,520 shares during the period. Point72 Italy S.r.l. purchased a new position in XPeng in the third quarter valued at about $1,160,000. Finally, Polymer Capital Management HK LTD acquired a new position in shares of XPeng during the third quarter worth about $487,000. Institutional investors and hedge funds own 23.05% of the company's stock.

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.