XPENG (NYSE:XPEV) Stock Price Target Cut by JPMorgan Chase & Co.

Key Points

• JPMorgan cut XPENG’s price target from $11.50 to $10.00 while maintaining a “neutral” rating, implying approximately 9.11% upside from the reported $9.16 share price.
• Analyst sentiment remains mixed, with XPENG carrying an overall “Hold” consensus rating and a consensus price target of $21.24; other recent targets include $16 from Goldman Sachs and $14 from Barclays.
• XPENG shares are near their 12-month low, trading below both their 50-day and 200-day moving averages. Institutional investors and hedge funds own 21.09% of the company.

XPENG (NYSE:XPEV - Get Free Report) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $11.50 to $10.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 9.11% from the company's current price.

XPEV has been the subject of several other reports. The Goldman Sachs Group set a $16.00 price objective on XPENG in a research note on Friday. Weiss Ratings lowered XPENG from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, October 14th. Barclays cut their price target on shares of XPENG from $15.00 to $14.00 and set an "underweight" rating on the stock in a report on Tuesday, August 25th. Finally, UBS Group started coverage on shares of XPENG in a research report on Wednesday, September 9th. They set a "neutral" rating and a $12.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, XPENG presently has an average rating of "Hold" and a consensus target price of $21.24.

XPENG Stock Performance

Shares of NYSE XPEV traded down $0.04 during mid-day trading on Monday, hitting $9.16. The stock had a trading volume of 2,059,606 shares, compared to its average volume of 6,938,344. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.86 and a current ratio of 1.11. The company has a 50 day moving average of $10.41 and a two-hundred day moving average of $13.17. XPENG has a twelve month low of $9.01 and a twelve month high of $28.24. The firm has a market cap of $8.75 billion, a PE ratio of -19.09 and a beta of 1.07.

Hedge Funds Weigh In On XPENG

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in XPENG by 57.5% during the third quarter. Farther Finance Advisors LLC now owns 4,850 shares of the company's stock valued at $46,000 after buying an additional 1,771 shares during the period. CX Institutional acquired a new position in XPENG in the 3rd quarter worth about $60,000. Integrated Wealth Concepts LLC acquired a new position in XPENG in the 2nd quarter worth about $81,000. TD Waterhouse Canada Inc. boosted its position in XPENG by 91.4% during the second quarter. TD Waterhouse Canada Inc. now owns 6,680 shares of the company's stock worth $91,000 after purchasing an additional 3,190 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in XPENG by 54.5% during the first quarter. EverSource Wealth Advisors LLC now owns 6,035 shares of the company's stock worth $103,000 after purchasing an additional 2,129 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors and hedge funds.

About XPENG

XPeng Inc is a China-based technology company focused on the design, development, manufacture and sale of smart electric vehicles. The company combines electric powertrain technology with software, connectivity and advanced driver-assistance features to develop vehicles intended for digitally connected and increasingly automated transportation.

XPeng's product portfolio has included electric sedans, sport utility vehicles and multipurpose vehicles, such as the P7 sedan, P5 sedan, G6 and G9 SUVs, and X9 multipurpose vehicle.

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