Knollwood Investment Advisory LLC Acquires Shares of 14,350 XPeng Inc. Sponsored ADR $XPEV

Key Points

• Knollwood Investment Advisory LLC purchased 14,350 shares of XPeng Inc. for approximately $297,000, marking a new investment in the electric vehicle company.
• XPeng reported a quarterly earnings loss of ($0.10) per share, significantly beating analysts' expectations of a loss of ($1.51), with revenue of $2.18 billion.
• Several analysts have recently upgraded XPeng's target price, with Morgan Stanley setting it at $28.00 and a consensus average target price of $23.82.

Knollwood Investment Advisory LLC bought a new stake in XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,350 shares of the company's stock, valued at approximately $297,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Hsbc Holdings PLC raised its holdings in shares of XPeng by 2.4% in the 1st quarter. Hsbc Holdings PLC now owns 153,733 shares of the company's stock valued at $3,186,000 after buying an additional 3,544 shares during the period. Quantbot Technologies LP increased its holdings in XPeng by 83.6% during the 1st quarter. Quantbot Technologies LP now owns 35,310 shares of the company's stock worth $732,000 after purchasing an additional 16,076 shares during the period. Brooklyn Investment Group increased its holdings in XPeng by 1,953.6% during the 1st quarter. Brooklyn Investment Group now owns 4,251 shares of the company's stock worth $88,000 after purchasing an additional 4,044 shares during the period. Nations Financial Group Inc. IA ADV purchased a new stake in XPeng during the 1st quarter worth about $741,000. Finally, Ethic Inc. increased its holdings in XPeng by 2.2% during the 1st quarter. Ethic Inc. now owns 72,678 shares of the company's stock worth $1,523,000 after purchasing an additional 1,586 shares during the period. Hedge funds and other institutional investors own 21.09% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on XPEV. The Goldman Sachs Group upgraded XPeng from a "neutral" rating to a "buy" rating and upped their price target for the stock from $16.40 to $24.00 in a report on Tuesday, June 17th. Bank of America upped their price objective on XPeng from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Tuesday, August 19th. Morgan Stanley set a $28.00 price objective on XPeng and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Citigroup upped their price objective on XPeng from $29.00 to $29.40 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Finally, BNP Paribas Exane assumed coverage on XPeng in a research report on Monday, August 18th. They set a "neutral" rating and a $19.00 price objective for the company. 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.85.

XPeng Stock Performance

Shares of NYSE XPEV traded down $0.5670 during trading hours on Monday, reaching $23.1830. The stock had a trading volume of 5,335,045 shares, compared to its average volume of 9,872,401. The firm has a market cap of $22.00 billion, a price-to-earnings ratio of -36.84 and a beta of 2.50. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. XPeng Inc. Sponsored ADR has a fifty-two week low of $7.16 and a fifty-two week high of $27.16. The firm has a 50-day moving average of $18.98 and a 200-day moving average of $19.60.

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.