XPeng Inc. Sponsored ADR (NYSE:XPEV - Get Free Report)'s share price dropped 3.9% during trading on Thursday . The stock traded as low as $18.50 and last traded at $18.46. Approximately 2,047,266 shares changed hands during trading, a decline of 81% from the average daily volume of 10,512,620 shares. The stock had previously closed at $19.20.
Analysts Set New Price Targets
A number of research firms have commented on XPEV. Nomura upgraded shares of XPeng from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $14.00 to $30.00 in a research report on Wednesday, March 19th. Sanford C. Bernstein set a $19.00 target price on XPeng and gave the stock a "market perform" rating in a report on Thursday, May 22nd. Citigroup raised XPeng from a "neutral" rating to a "buy" rating and increased their price target for the company from $13.70 to $29.00 in a research note on Monday, March 10th. Daiwa Capital Markets reiterated a "neutral" rating and set a $24.00 price target on shares of XPeng in a research report on Wednesday, March 19th. Finally, Nomura Securities upgraded XPeng to a "strong-buy" rating in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, five have issued 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 stock presently has an average rating of "Moderate Buy" and an average price target of $23.73.
Check Out Our Latest Stock Report on XPeng
XPeng Stock Performance
The stock has a 50 day moving average of $19.62 and a two-hundred day moving average of $18.02. 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 (NYSE:XPEV - Get Free Report) last released 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. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $15.80 billion. XPeng had a negative net margin of 10.20% and a negative return on equity of 15.89%. As a group, equities analysts forecast that XPeng Inc. Sponsored ADR will post -0.96 EPS for the current year.
Institutional Trading of XPeng
A number of hedge funds have recently modified their holdings of XPEV. TMT General Partner Ltd raised its position in XPeng by 88.2% during the first quarter. TMT General Partner Ltd now owns 32,726,800 shares of the company's stock valued at $678,099,000 after buying an additional 15,340,907 shares during the period. Alibaba Group Holding Ltd grew its stake in XPeng by 21.2% during the 4th 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 in the last quarter. BNP Paribas Financial Markets grew its stake in XPeng by 567.4% during the 1st quarter. BNP Paribas Financial Markets now owns 5,306,883 shares of the company's stock valued at $109,959,000 after acquiring an additional 4,511,751 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of XPeng by 1,138.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company's stock valued at $54,354,000 after purchasing an additional 4,227,055 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of XPeng by 947.5% in 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 in the last quarter. Hedge funds and other institutional investors own 21.09% of the company's stock.
About XPeng
(
Get Free Report)
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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