XPeng (NYSE:XPEV) Upgraded to Outperform by Macquarie

XPeng (NYSE:XPEV) was upgraded by equities research analysts at Macquarie from a “neutral” rating to an “outperform” rating in a research note issued on Friday, Marketbeat reports.

Several other equities analysts also recently issued reports on the stock. Bank of America reduced their price target on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Daiwa Capital Markets upgraded XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lowered their target price on XPeng from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. Daiwa America upgraded XPeng to a “strong-buy” rating in a research report on Thursday, May 23rd. Finally, Citigroup cut their price objective on shares of XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, XPeng currently has an average rating of “Moderate Buy” and an average price target of $11.50.

XPeng Stock Performance

XPEV stock traded up $0.12 during midday trading on Friday, reaching $7.99. The company had a trading volume of 7,954,201 shares, compared to its average volume of 13,015,270. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $7.73 and a 200 day moving average price of $8.15. The firm has a market capitalization of $7.53 billion, a PE ratio of -5.41 and a beta of 2.76. XPeng has a fifty-two week low of $6.55 and a fifty-two week high of $19.96.

Institutional Investors Weigh In On XPeng

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in XPeng by 9,123.0% during the fourth quarter. Russell Investments Group Ltd. now owns 815,131 shares of the company’s stock worth $11,893,000 after buying an additional 806,293 shares in the last quarter. Sei Investments Co. boosted its stake in shares of XPeng by 83.0% during the 1st quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock worth $994,000 after acquiring an additional 58,700 shares in the last quarter. Norges Bank acquired a new position in shares of XPeng in the 4th quarter worth $41,993,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of XPeng by 35.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company’s stock worth $7,516,000 after acquiring an additional 257,300 shares during the last quarter. Finally, Electron Capital Partners LLC acquired a new stake in shares of XPeng during the fourth quarter worth $26,047,000. 23.05% of the stock is owned by institutional investors and hedge funds.

About XPeng

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.