Brokerages Set XPeng Inc. Sponsored ADR (NYSE:XPEV) Target Price at $23.85

Key Points

• XPeng Inc. (NYSE:XPEV) has received an average analyst rating of "Moderate Buy", with a 12-month price target averaging $23.85.
• Institutional investors have shown confidence in XPeng, with significant stake increases, including 21.09% ownership across institutional shareholders.
• As of the latest trading session, XPeng's stock is priced at $23.09, with a 52-week range between $7.16 and $27.16.

Shares of XPeng Inc. Sponsored ADR (NYSE:XPEV - Get Free Report) have been assigned an average rating of "Moderate Buy" from the sixteen analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $23.8538.

Several brokerages have recently issued reports on XPEV. Sanford C. Bernstein set a $19.00 price objective on XPeng and gave the company a "market perform" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group upgraded XPeng from a "neutral" rating to a "buy" rating and increased their target price for the stock from $16.40 to $24.00 in a research report on Tuesday, June 17th. Bank of America increased their target price on XPeng from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Tuesday, August 19th. Citigroup increased their target price on XPeng from $29.00 to $29.40 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Finally, BNP Paribas Exane began coverage on XPeng in a research report on Monday, August 18th. They set a "neutral" rating and a $19.00 target price on the stock.

XPeng Price Performance

Shares of NYSE:XPEV traded down $0.90 on Tuesday, hitting $21.01. The company had a trading volume of 10,007,167 shares, compared to its average volume of 10,950,362. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. XPeng has a 52-week low of $7.47 and a 52-week high of $27.16. The business has a 50 day moving average of $19.38 and a 200 day moving average of $19.83. The company has a market cap of $19.94 billion, a PE ratio of -33.35 and a beta of 2.51.

Hedge Funds Weigh In On XPeng

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its position in XPeng by 70.1% during the first quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock worth $27,000 after buying an additional 532 shares during the period. Atlas Capital Advisors Inc. lifted its position in XPeng by 651.0% during the first quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company's stock worth $31,000 after buying an additional 1,302 shares during the period. Garde Capital Inc. acquired a new stake in XPeng during the first quarter worth about $39,000. SVB Wealth LLC acquired a new stake in XPeng during the first quarter worth about $46,000. Finally, Bayforest Capital Ltd increased its stake in XPeng by 145.5% during the first quarter. Bayforest Capital Ltd now owns 2,283 shares of the company's stock worth $47,000 after acquiring an additional 1,353 shares during the last quarter. 21.09% of the stock is currently owned by hedge funds and other institutional investors.

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.