XPeng Inc. (NYSE:XPEV) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC cut its position in XPeng Inc. (NYSE:XPEV - Free Report) by 57.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,162 shares of the company's stock after selling 23,123 shares during the quarter. Rafferty Asset Management LLC's holdings in XPeng were worth $203,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in XPEV. EverSource Wealth Advisors LLC increased its holdings in shares of XPeng by 55.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company's stock valued at $30,000 after acquiring an additional 898 shares during the period. Avior Wealth Management LLC increased its holdings in shares of XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company's stock valued at $33,000 after acquiring an additional 2,564 shares during the period. Lindbrook Capital LLC increased its holdings in shares of XPeng by 50.7% in the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company's stock valued at $40,000 after acquiring an additional 1,138 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of XPeng in the 4th quarter valued at $41,000. Finally, Natixis acquired a new position in shares of XPeng in the 4th quarter valued at $43,000. 21.09% of the stock is owned by institutional investors and hedge funds.

XPeng Price Performance

Shares of NYSE:XPEV traded up $0.14 on Wednesday, reaching $19.47. 4,399,225 shares of the company were exchanged, compared to its average volume of 11,465,738. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. XPeng Inc. has a 1-year low of $6.60 and a 1-year high of $27.16. The firm has a market cap of $18.47 billion, a price-to-earnings ratio of -22.40 and a beta of 2.64. The company has a 50-day moving average of $19.71 and a 200-day moving average of $16.97.

XPeng (NYSE:XPEV - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($1.51) by $1.41. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. The business had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $15.80 billion. Equities analysts forecast that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XPEV. Nomura Securities raised shares of XPeng to a "strong-buy" rating in a report on Tuesday, March 18th. JPMorgan Chase & Co. cut their target price on shares of XPeng from $35.00 to $31.00 and set an "overweight" rating on the stock in a report on Wednesday, March 19th. UBS Group raised shares of XPeng from a "sell" rating to a "neutral" rating and lifted their target price for the company from $8.80 to $18.00 in a report on Monday, February 24th. Daiwa America cut shares of XPeng from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Barclays upped their price objective on shares of XPeng from $7.00 to $20.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, XPeng presently has an average rating of "Hold" and an average price target of $22.29.

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.