Quantitative Investment Management LLC Invests $856,000 in XPeng Inc. Sponsored ADR $XPEV

Key Points

• Quantitative Investment Management LLC has acquired 41,341 shares of XPeng Inc., valued at approximately $856,000, signaling institutional interest in the electric vehicle company.
• Several hedge funds have increased their stakes in XPeng, with notable increases from Farther Finance Advisors LLC (70.1%) and Atlas Capital Advisors Inc. (651.0%) during the 1st quarter.
• Wall Street analysts have a consensus rating of Moderate Buy for XPeng, with an average price target of $23.85, indicating a bullish outlook on the stock's future performance.

Quantitative Investment Management LLC purchased a new position in XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 41,341 shares of the company's stock, valued at approximately $856,000.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in shares of XPeng by 70.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock worth $27,000 after purchasing an additional 532 shares during the last quarter. Atlas Capital Advisors Inc. lifted its holdings in shares of XPeng by 651.0% in the 1st quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company's stock worth $31,000 after purchasing an additional 1,302 shares during the last quarter. Garde Capital Inc. bought a new stake in shares of XPeng in the 1st quarter worth approximately $39,000. SVB Wealth LLC bought a new stake in shares of XPeng in the 1st quarter worth approximately $46,000. Finally, Bayforest Capital Ltd lifted its holdings in shares of XPeng by 145.5% in the 1st quarter. Bayforest Capital Ltd now owns 2,283 shares of the company's stock worth $47,000 after purchasing an additional 1,353 shares during the last quarter. Institutional investors own 21.09% of the company's stock.

XPeng Price Performance

Shares of XPEV traded down $0.90 during midday trading on Friday, reaching $21.01. The stock had a trading volume of 10,007,167 shares, compared to its average volume of 10,666,873. XPeng Inc. Sponsored ADR has a 52 week low of $7.47 and a 52 week high of $27.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 1.00. The firm's 50 day moving average price is $19.38 and its 200-day moving average price is $19.80. The company has a market capitalization of $19.94 billion, a P/E ratio of -33.35 and a beta of 2.50.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on XPEV. Sanford C. Bernstein set a $19.00 price target on XPeng and gave the stock a "market perform" rating in a report on Thursday, May 22nd. Macquarie lifted their target price on XPeng from $24.00 to $25.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. BNP Paribas began coverage on XPeng in a research note on Monday, August 18th. They set a "hold" rating on the stock. Citigroup lifted their target price on XPeng from $29.00 to $29.40 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Finally, Bank of America lifted their target price on XPeng from $25.00 to $26.00 and gave the company a "buy" rating in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, XPeng currently has an average rating of "Moderate Buy" and an average target price of $23.85.

XPeng 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.