Neuberger Berman Group LLC Makes New Investment in XPeng Inc. Sponsored ADR (NYSE:XPEV)

Key Points

• Neuberger Berman Group LLC purchased a new stake of 376,114 shares in XPeng Inc. valued at approximately $7.79 million during the first quarter.
• Equity analysts have set varied price targets for XPeng, with Morgan Stanley at $28.00 and Goldman Sachs upgrading to a "buy" rating with a target of $24.00.
• XPeng reported its quarterly earnings with a smaller-than-expected loss of ($0.10) earnings per share, outperforming analysts' consensus estimates significantly.

Neuberger Berman Group LLC purchased a new stake in XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 376,114 shares of the company's stock, valued at approximately $7,793,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in XPeng by 70.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock worth $27,000 after acquiring an additional 532 shares in the last quarter. Atlas Capital Advisors Inc. raised its position in XPeng by 651.0% in the 1st quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company's stock valued at $31,000 after purchasing an additional 1,302 shares during the last quarter. Garde Capital Inc. purchased a new position in XPeng during the 1st quarter worth $39,000. Bayforest Capital Ltd raised its position in XPeng by 145.5% during the 1st quarter. Bayforest Capital Ltd now owns 2,283 shares of the company's stock worth $47,000 after buying an additional 1,353 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of XPeng during the 1st quarter worth $54,000. 21.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on XPEV. Sanford C. Bernstein set a $19.00 price target on shares of XPeng and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. Macquarie raised their price target on shares of XPeng from $24.00 to $25.00 and gave the company an "outperform" rating in a report on Friday. Morgan Stanley set a $28.00 price target on shares of XPeng and gave the company an "overweight" rating in a report on Thursday, June 12th. Finally, The Goldman Sachs Group upgraded shares of XPeng from a "neutral" rating to a "buy" rating and raised their price target for the company from $16.40 to $24.00 in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.31.

XPeng Stock Performance

XPeng stock traded up $0.35 during mid-day trading on Friday, reaching $19.73. The company's stock had a trading volume of 5,658,548 shares, compared to its average volume of 6,505,967. The firm has a market cap of $18.72 billion, a price-to-earnings ratio of -26.31 and a beta of 2.50. The business has a 50 day moving average price of $18.80 and a 200-day moving average price of $19.42. The company has a current ratio of 1.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.34. XPeng Inc. Sponsored ADR has a twelve month low of $6.65 and a twelve month high of $27.16.

XPeng (NYSE:XPEV - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($1.51) by $1.41. The firm had revenue of $2.18 billion during 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%. Sell-side analysts predict that XPeng Inc. Sponsored ADR will post -0.96 EPS for the current fiscal year.

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.