XPeng Inc. Sponsored ADR (NYSE:XPEV) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its stake in XPeng by 2,699.6% in Q1, acquiring over 1.2 million shares worth approximately $27.2 million.
• XPeng reported a quarterly earnings per share of ($0.10), exceeding analysts' expectations, but had a negative return on equity of -15.89%.
• Analysts have varied ratings on XPeng, with Goldman Sachs upgrading it to a "buy" and setting a target price of $24.00, while the average target price stands at $23.73.

Connor Clark & Lunn Investment Management Ltd. increased its position in XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report) by 2,699.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,312,990 shares of the company's stock after buying an additional 1,266,090 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.14% of XPeng worth $27,205,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Alibaba Group Holding Ltd lifted its holdings in shares of XPeng by 21.2% in the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company's stock valued at $448,678,000 after buying an additional 6,650,000 shares during the period. TMT General Partner Ltd raised its position in shares of XPeng by 88.2% during the first quarter. TMT General Partner Ltd now owns 32,726,800 shares of the company's stock worth $678,099,000 after purchasing an additional 15,340,907 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 worth $20,800,000 after purchasing an additional 1,591,750 shares during the period. Renaissance Technologies LLC raised its position in shares of XPeng by 51.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,073,367 shares of the company's stock worth $12,687,000 after purchasing an additional 366,667 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in shares of XPeng during the fourth quarter worth $9,398,000. Institutional investors and hedge funds own 21.09% of the company's stock.

XPeng Stock Performance

Shares of XPEV stock opened at $20.21 on Friday. 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 Inc. Sponsored ADR has a fifty-two week low of $6.60 and a fifty-two week high of $27.16. The stock's 50-day moving average is $18.76 and its two-hundred day moving average is $19.21. The firm has a market cap of $19.18 billion, a P/E ratio of -26.95 and a beta of 2.50.

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

Analysts Set New Price Targets

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

XPeng 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.

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