XPeng (NYSE:XPEV) Upgraded to Buy at Nomura

Nomura upgraded shares of XPeng (NYSE:XPEV - Free Report) from a neutral rating to a buy rating in a research note released on Wednesday morning, MarketBeat.com reports. The firm currently has $30.00 price objective on the stock, up from their prior price objective of $14.00.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group cut XPeng from a "buy" rating to a "neutral" rating and set a $12.50 target price for the company. in a report on Thursday, November 21st. Bank of America raised their target price on XPeng from $18.60 to $27.00 and gave the company a "buy" rating in a report on Wednesday. Citigroup upgraded XPeng from a "neutral" rating to a "buy" rating and raised their target price for the company from $13.70 to $29.00 in a report on Monday, March 10th. Sanford C. Bernstein lifted their price objective on XPeng from $9.00 to $14.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. Finally, UBS Group upgraded XPeng from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $8.80 to $18.00 in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, XPeng has a consensus rating of "Hold" and an average target price of $21.84.

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XPeng Trading Down 1.2 %

Shares of NYSE XPEV traded down $0.27 during mid-day trading on Wednesday, reaching $21.81. 12,586,942 shares of the company's stock were exchanged, compared to its average volume of 13,199,864. The firm has a market capitalization of $20.54 billion, a price-to-earnings ratio of -25.06 and a beta of 2.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. XPeng has a 52-week low of $6.55 and a 52-week high of $27.16. The company's 50-day moving average is $18.29 and its 200-day moving average is $14.09.

XPeng (NYSE:XPEV - Get Free Report) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($1.36) by $1.17. The business had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. Analysts expect that XPeng will post -0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On XPeng

Several hedge funds and other institutional investors have recently made changes to their positions in XPEV. Advisors Asset Management Inc. raised its position in shares of XPeng by 48.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company's stock worth $604,000 after acquiring an additional 16,289 shares in the last quarter. Citigroup Inc. increased its position in XPeng by 14.2% during the third quarter. Citigroup Inc. now owns 293,321 shares of the company's stock worth $3,573,000 after buying an additional 36,560 shares during the period. FMR LLC increased its position in XPeng by 1,053.8% during the third quarter. FMR LLC now owns 323,581 shares of the company's stock worth $3,941,000 after buying an additional 295,536 shares during the period. Flow Traders U.S. LLC acquired a new position in XPeng during the third quarter worth approximately $360,000. Finally, Point72 Hong Kong Ltd acquired a new position in XPeng during the third quarter worth approximately $22,047,000. Institutional investors and hedge funds own 21.09% 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.