Invesco Ltd. Cuts Position in XPeng Inc. (NYSE:XPEV)

Invesco Ltd. lessened its stake in XPeng Inc. (NYSE:XPEV - Free Report) by 29.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 642,580 shares of the company's stock after selling 272,650 shares during the quarter. Invesco Ltd. owned 0.07% of XPeng worth $7,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of XPEV. EverSource Wealth Advisors LLC increased its stake 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 purchasing an additional 898 shares in the last quarter. Avior Wealth Management LLC lifted its stake in 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 buying an additional 2,564 shares in the last quarter. Lindbrook Capital LLC lifted its stake in XPeng by 50.7% in the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company's stock worth $40,000 after purchasing an additional 1,138 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in XPeng in the 4th quarter valued at $41,000. Finally, Compagnie Lombard Odier SCmA increased its stake in shares of XPeng by 1,703.3% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 8,115 shares of the company's stock worth $96,000 after acquiring an additional 7,665 shares during the last quarter. 21.09% of the stock is owned by institutional investors and hedge funds.

XPeng Stock Performance

Shares of XPeng stock traded down $0.09 during trading on Wednesday, reaching $18.59. The company's stock had a trading volume of 1,322,203 shares, compared to its average volume of 12,814,153. The firm has a market cap of $17.64 billion, a PE ratio of -21.33 and a beta of 2.62. The company has a 50-day moving average price of $20.60 and a two-hundred day moving average price of $15.80. 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 fifty-two week low of $6.60 and a fifty-two week high of $27.16.

XPeng (NYSE:XPEV - Get Free Report) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.36) by $1.17. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. On average, analysts forecast that XPeng Inc. will post -0.96 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on XPEV. UBS Group raised shares of XPeng from a "sell" rating to a "neutral" rating and upped their price objective for the company from $8.80 to $18.00 in a report on Monday, February 24th. Barclays increased their price target 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. Macquarie reaffirmed a "neutral" rating and set a $18.00 target price on shares of XPeng in a research note on Friday, February 7th. Daiwa America lowered shares of XPeng from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Citigroup upgraded shares of XPeng from a "neutral" rating to a "buy" rating and increased their target price for the stock from $13.70 to $29.00 in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $22.20.

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.