Mitsubishi UFJ Asset Management Co. Ltd. lowered its position in shares of XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 254,016 shares of the company's stock after selling 15,792 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in XPeng were worth $5,263,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. US Bancorp DE raised its stake in XPeng by 2.7% during the first quarter. US Bancorp DE now owns 67,718 shares of the company's stock worth $1,403,000 after purchasing an additional 1,759 shares during the period. Bayforest Capital Ltd raised its stake in XPeng by 145.5% during the first 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 period. Harvest Fund Management Co. Ltd raised its stake in XPeng by 7.9% during the first quarter. Harvest Fund Management Co. Ltd now owns 88,500 shares of the company's stock worth $1,834,000 after purchasing an additional 6,500 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of XPeng in the 1st quarter valued at $54,000. Finally, Mackenzie Financial Corp purchased a new position in shares of XPeng in the 1st quarter valued at $2,548,000. Institutional investors and hedge funds own 21.09% of the company's stock.
Wall Street Analysts Forecast Growth
XPEV has been the topic of a number of research reports. Sanford C. Bernstein set a $19.00 target price on shares of XPeng and gave the company a "market perform" rating in a research note on Thursday, May 22nd. Morgan Stanley set a $28.00 target price on shares of XPeng and gave the company an "overweight" rating in a research note on Thursday, June 12th. Finally, The Goldman Sachs Group raised shares of XPeng from a "neutral" rating to a "buy" rating and raised their target price for the company from $16.40 to $24.00 in a research note on Tuesday, June 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.73.
View Our Latest Analysis on XPeng
XPeng Stock Performance
XPEV traded down $0.78 during trading hours on Thursday, reaching $19.40. 9,028,080 shares of the stock traded hands, compared to its average volume of 6,417,379. The firm's fifty day simple moving average is $18.80 and its two-hundred day simple moving average is $19.30. XPeng Inc. Sponsored ADR has a fifty-two week low of $6.65 and a fifty-two week high of $27.16. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.21 and a quick ratio of 1.07.
XPeng (NYSE:XPEV - Get Free Report) last released its quarterly 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%. As a group, equities research analysts anticipate that XPeng Inc. Sponsored ADR will post -0.96 EPS for the current fiscal year.
About XPeng
(
Free Report)
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.
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