Rafferty Asset Management LLC Sells 23,123 Shares of XPeng Inc. (NYSE:XPEV)

Rafferty Asset Management LLC cut its holdings in shares of XPeng Inc. (NYSE:XPEV - Free Report) by 57.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,162 shares of the company's stock after selling 23,123 shares during the period. Rafferty Asset Management LLC's holdings in XPeng were worth $203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alibaba Group Holding Ltd raised its holdings in shares of XPeng by 21.2% during the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company's stock valued at $448,678,000 after acquiring an additional 6,650,000 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of XPeng by 1,138.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company's stock valued at $54,354,000 after acquiring an additional 4,227,055 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of XPeng by 947.5% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company's stock valued at $20,800,000 after acquiring an additional 1,591,750 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of XPeng during the fourth quarter valued at approximately $9,398,000. Finally, Polar Capital Holdings Plc acquired a new stake in shares of XPeng during the fourth quarter valued at approximately $6,596,000. 21.09% of the stock is owned by institutional investors and hedge funds.

XPeng Price Performance

Shares of XPeng stock traded down $0.63 during mid-day trading on Tuesday, reaching $19.37. 8,652,188 shares of the stock were exchanged, compared to its average volume of 12,144,776. The company has a market cap of $18.38 billion, a price-to-earnings ratio of -22.26 and a beta of 2.64. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The firm has a 50-day simple moving average of $19.77 and a 200 day simple moving average of $16.95. XPeng Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $27.16.

XPeng (NYSE:XPEV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($1.51) by $1.41. The firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $15.80 billion. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. On average, sell-side analysts predict that XPeng Inc. will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on XPEV shares. Citigroup upgraded shares of XPeng from a "neutral" rating to a "buy" rating and boosted their price target for the company from $13.70 to $29.00 in a report on Monday, March 10th. Nomura upgraded shares of XPeng from a "neutral" rating to a "buy" rating and upped their price objective for the company from $14.00 to $30.00 in a research note on Wednesday, March 19th. Barclays upped their price objective on shares of XPeng from $7.00 to $20.00 and gave the company an "underweight" rating in a research note on Thursday, March 20th. Daiwa Capital Markets reiterated a "neutral" rating and issued a $24.00 price objective on shares of XPeng in a research note on Wednesday, March 19th. Finally, Macquarie reissued a "neutral" rating and issued a $18.00 target price on shares of XPeng in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price 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.