China Universal Asset Management Co. Ltd. Trims Stake in XPeng Inc. Sponsored ADR (NYSE:XPEV)

China Universal Asset Management Co. Ltd. decreased its position in shares of XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report) by 54.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 32,000 shares of the company's stock after selling 38,000 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in XPeng were worth $663,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Crossmark Global Holdings Inc. purchased a new position in shares of XPeng during the 1st quarter worth approximately $284,000. GF Fund Management CO. LTD. bought a new stake in shares of XPeng in the 1st quarter worth approximately $454,000. Aaron Wealth Advisors LLC bought a new stake in shares of XPeng in the 1st quarter worth approximately $210,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of XPeng in the 1st quarter worth approximately $260,000. Finally, Garde Capital Inc. bought a new stake in shares of XPeng in the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 21.09% of the company's stock.

XPeng Stock Performance

XPEV traded down $0.02 during mid-day trading on Friday, reaching $17.41. 6,032,734 shares of the company traded hands, compared to its average volume of 11,595,035. The stock has a market capitalization of $16.52 billion, a P/E ratio of -23.21 and a beta of 2.51. The company has a quick ratio of 1.07, a current ratio of 1.21 and a debt-to-equity ratio of 0.34. The company's fifty day moving average price is $19.40 and its 200-day moving average price is $18.32. XPeng Inc. Sponsored ADR has a 52-week low of $6.60 and a 52-week high of $27.16.

XPeng (NYSE:XPEV - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($1.51) by $1.41. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $15.80 billion. XPeng had a negative net margin of 10.20% and a negative return on equity of 15.89%. On average, sell-side analysts expect that XPeng Inc. Sponsored ADR will post -0.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XPEV. Sanford C. Bernstein set a $19.00 price target on XPeng and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. Morgan Stanley set a $28.00 price target on XPeng and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Nomura Securities raised XPeng to a "strong-buy" rating in a research report on Tuesday, March 18th. Daiwa Capital Markets reissued a "neutral" rating and issued a $24.00 price target on shares of XPeng in a research report on Wednesday, March 19th. Finally, Bank of America upped their price objective on XPeng from $18.60 to $27.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.73.

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.