XPeng (NYSE:XPEV) Downgraded to Neutral Rating by The Goldman Sachs Group

The Goldman Sachs Group cut shares of XPeng (NYSE:XPEV - Free Report) from a buy rating to a neutral rating in a research report released on Thursday morning, MarketBeat.com reports. They currently have $12.50 price target on the stock.

XPEV has been the topic of a number of other reports. Citigroup reduced their price target on shares of XPeng from $14.60 to $13.70 and set a "neutral" rating on the stock in a research report on Wednesday. Bank of America decreased their price target on XPeng from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, August 21st. JPMorgan Chase & Co. raised XPeng from a "neutral" rating to an "overweight" rating and raised their price target for the company from $8.00 to $11.50 in a report on Thursday, September 5th. Sanford C. Bernstein boosted their price objective on XPeng from $9.00 to $14.00 and gave the stock a "market perform" rating in a research note on Wednesday. Finally, Macquarie upgraded 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, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.39.

XPeng Price Performance

Shares of XPEV traded down $0.35 during mid-day trading on Thursday, reaching $12.29. The company had a trading volume of 12,498,877 shares, compared to its average volume of 13,734,375. 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 company has a market capitalization of $11.58 billion, a P/E ratio of -14.53 and a beta of 2.80. XPeng has a twelve month low of $6.55 and a twelve month high of $18.74. The company's 50-day moving average is $11.68 and its 200-day moving average is $9.24.

XPeng (NYSE:XPEV - Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The company had revenue of $1.12 billion for the quarter. XPeng had a negative return on equity of 16.63% and a negative net margin of 15.35%. On average, equities analysts anticipate that XPeng will post -1.01 EPS for the current year.

Hedge Funds Weigh In On XPeng

Several large investors have recently bought and sold shares of the business. Bank of Montreal Can increased its stake in shares of XPeng by 212.1% in the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company's stock valued at $31,910,000 after acquiring an additional 2,724,549 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in XPeng in the third quarter valued at approximately $22,047,000. Primecap Management Co. CA raised its holdings in XPeng by 5.6% in the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company's stock worth $120,369,000 after purchasing an additional 872,160 shares during the period. Point72 Europe London LLP bought a new position in shares of XPeng during the second quarter worth $5,923,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of XPeng by 100.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company's stock valued at $8,864,000 after buying an additional 550,000 shares during the period. 23.05% of the stock is currently owned by institutional investors and hedge funds.

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.