XPENG (NYSE:XPEV) Cut to "Neutral" at JPMorgan Chase & Co.

Key Points

• JPMorgan downgraded XPENG from “overweight” to “neutral,” adding to mixed analyst sentiment around the Chinese electric-vehicle maker.
• Barclays cut its price target to $14 and maintained an “underweight” rating, while UBS initiated coverage with a “neutral” rating and a $12 target. Overall, XPENG has a consensus “Hold” rating and a $23.65 price target.
• XPENG shares opened at $9.95, near their one-year low of $9.94, versus a one-year high of $28.24; institutional investors and hedge funds own approximately 21.09% of the stock.

XPENG (NYSE:XPEV - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a report issued on Tuesday, Briefing.com reports.

A number of other research analysts have also recently weighed in on XPEV. Barclays dropped their price target on XPENG from $15.00 to $14.00 and set an "underweight" rating for the company in a research report on Tuesday, August 25th. Weiss Ratings lowered shares of XPENG from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, September 10th. Finally, UBS Group began coverage on shares of XPENG in a research note on Wednesday, September 9th. They issued a "neutral" rating and a $12.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $23.65.

XPENG Stock Performance

Shares of XPEV stock opened at $9.95 on Tuesday. The stock has a fifty day moving average price of $11.51 and a 200 day moving average price of $14.36. The stock has a market cap of $9.50 billion, a PE ratio of -20.72 and a beta of 1.11. XPENG has a 1 year low of $9.94 and a 1 year high of $28.24. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.86 and a current ratio of 1.11.

Hedge Funds Weigh In On XPENG

Several institutional investors have recently added to or reduced their stakes in the business. Nykredit A S bought a new position in XPENG during the 2nd quarter worth approximately $825,000. Altar Rock LLC bought a new stake in shares of XPENG in the 2nd quarter valued at approximately $196,000. QRG Capital Management Inc. bought a new stake in shares of XPENG in the 2nd quarter valued at approximately $187,000. Venturi Wealth Management LLC raised its position in shares of XPENG by 66.3% during the 1st quarter. Venturi Wealth Management LLC now owns 16,481 shares of the company's stock valued at $282,000 after acquiring an additional 6,571 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of XPENG during the 2nd quarter valued at approximately $81,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.

XPENG Company Profile

XPeng Inc NYSE: XPEV is a Chinese smart electric vehicle manufacturer that designs, develops, manufactures and markets battery-powered passenger vehicles. The company combines vehicle engineering with software, connectivity and advanced driver-assistance technologies to provide digitally integrated driving experiences.

XPeng's product portfolio has included electric sedans, sport utility vehicles and multi-purpose vehicles, including the P7 sedan, G6 and G9 SUVs, and X9 MPV. Its technology offerings include the XNGP advanced driver-assistance system, in-vehicle operating systems and related smart-cockpit features.

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