XPeng (NYSE:XPEV) Stock Rating Upgraded by CLSA

Key Points

• XPeng's stock rating has been upgraded to a "strong-buy" by CLSA, reflecting increased confidence in the company's future performance.
• The average price target for XPeng shares has risen, with several firms adjusting their estimates upwards, including Citigroup and Bank of America.
• XPeng's stock has shown significant trading activity, closing at $22.65, with a market capitalization of $21.49 billion.

XPeng (NYSE:XPEV - Get Free Report) was upgraded by CLSA to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Several other research analysts also recently commented on XPEV. Citigroup raised their price target on shares of XPeng from $29.00 to $29.40 and gave the company a "buy" rating in a report on Wednesday, August 20th. Bank of America increased their price target on shares of XPeng from $25.00 to $26.00 and gave the stock a "buy" rating in a report on Tuesday, August 19th. BNP Paribas started coverage on XPeng in a research note on Monday, August 18th. They issued a "hold" rating on the stock. Morgan Stanley set a $28.00 price objective on XPeng and gave the stock an "overweight" rating in a report on Thursday, June 12th. Finally, Macquarie raised their price objective on XPeng from $24.00 to $25.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $23.85.

XPeng Stock Performance

XPEV traded up $1.38 on Monday, hitting $22.65. The company's stock had a trading volume of 6,497,983 shares, compared to its average volume of 9,588,948. XPeng has a 12 month low of $10.06 and a 12 month high of $27.16. The firm has a market cap of $21.49 billion, a P/E ratio of -36.03 and a beta of 2.51. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The company's 50 day simple moving average is $20.33 and its 200-day simple moving average is $19.97.

Institutional Trading of XPeng

A number of hedge funds have recently modified their holdings of XPEV. Ameriprise Financial Inc. lifted its position in XPeng by 29.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 127,533 shares of the company's stock valued at $2,280,000 after acquiring an additional 28,983 shares during the period. Marshall Wace LLP boosted its position in shares of XPeng by 228.7% in the 2nd quarter. Marshall Wace LLP now owns 1,639,403 shares of the company's stock worth $29,313,000 after purchasing an additional 1,140,593 shares in the last quarter. SBI Securities Co. Ltd. increased its position in XPeng by 3.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 17,613 shares of the company's stock valued at $315,000 after buying an additional 655 shares in the last quarter. Ethic Inc. boosted its holdings in XPeng by 6.8% in the second quarter. Ethic Inc. now owns 77,604 shares of the company's stock worth $1,407,000 after acquiring an additional 4,926 shares in the last quarter. Finally, FNY Investment Advisers LLC grew its stake in shares of XPeng by 18,967.9% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company's stock worth $178,000 after acquiring an additional 10,053 shares during the last quarter. Institutional investors own 21.09% of the company's stock.

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.

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