Mackenzie Financial Corp Purchases New Stake in XPeng Inc. Sponsored ADR (NYSE:XPEV)

Key Points

• Mackenzie Financial Corp has acquired a new stake in XPeng Inc., purchasing 122,976 shares valued at approximately $2.5 million during the first quarter.
• Various hedge funds, including Alibaba and JPMorgan Chase, significantly increased their investments in XPeng, reflecting growing institutional interest in the company.
• XPeng posted earnings showing a loss of ($0.10) EPS, which was notably better than analysts' expectations, although the company generated a revenue of only $2.18 billion for the quarter.

Mackenzie Financial Corp bought a new stake in XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 122,976 shares of the company's stock, valued at approximately $2,548,000.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in XPeng by 70.1% during the first quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock worth $27,000 after acquiring an additional 532 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of XPeng by 3.9% during the fourth quarter. Quadrant Capital Group LLC now owns 24,192 shares of the company's stock worth $286,000 after purchasing an additional 913 shares during the last quarter. Ballentine Partners LLC grew its position in shares of XPeng by 5.3% in the first quarter. Ballentine Partners LLC now owns 22,798 shares of the company's stock valued at $472,000 after purchasing an additional 1,151 shares during the period. Parallel Advisors LLC increased its stake in XPeng by 18.9% in the first quarter. Parallel Advisors LLC now owns 9,936 shares of the company's stock valued at $206,000 after purchasing an additional 1,576 shares during the last quarter. Finally, Garde Capital Inc. purchased a new position in XPeng during the first quarter worth about $39,000. 21.09% of the stock is owned by institutional investors and hedge funds.

XPeng Stock Up 4.5%

NYSE:XPEV traded up $0.81 during trading hours on Monday, hitting $18.86. The stock had a trading volume of 6,146,673 shares, compared to its average volume of 9,783,652. The business has a 50 day simple moving average of $18.77 and a two-hundred day simple moving average of $19.07. XPeng Inc. Sponsored ADR has a 1-year low of $6.60 and a 1-year high of $27.16. The company has a current ratio of 1.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.34. The company has a market cap of $17.90 billion, a PE ratio of -25.15 and a beta of 2.50.

XPeng (NYSE:XPEV - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.51) by $1.41. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $15.80 billion. XPeng had a negative net margin of 10.20% and a negative return on equity of 15.89%. Analysts predict that XPeng Inc. Sponsored ADR will post -0.96 EPS for the current year.

Analyst Ratings Changes

XPEV has been the subject of a number of research analyst reports. Morgan Stanley set a $28.00 price objective on shares of XPeng and gave the company an "overweight" rating in a research note on Thursday, June 12th. Sanford C. Bernstein set a $19.00 price target on shares of XPeng and gave the company a "market perform" rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group upgraded XPeng from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $16.40 to $24.00 in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.73.

XPeng Company 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.