XPeng (NYSE:XPEV) Upgraded at Citigroup

XPeng (NYSE:XPEV) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Monday,Benzinga reports. The firm currently has a $29.00 price objective on the stock, up from their prior price objective of $13.70. Citigroup’s price objective would suggest a potential upside of 23.27% from the company’s previous close.

XPEV has been the subject of several other research reports. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price for the company in a research note on Friday, November 22nd. UBS Group raised shares of XPeng from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $8.80 to $18.00 in a research report on Monday, February 24th. The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price for the company. in a research note on Thursday, November 21st. Macquarie reaffirmed a “neutral” rating and set a $18.00 target price on shares of XPeng in a report on Friday, February 7th. Finally, Sanford C. Bernstein raised their price target on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, XPeng presently has an average rating of “Moderate Buy” and an average target price of $15.63.

XPeng Price Performance

Shares of NYSE XPEV opened at $23.53 on Monday. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $22.16 billion, a price-to-earnings ratio of -27.04 and a beta of 2.68. XPeng has a twelve month low of $6.55 and a twelve month high of $23.89. The business has a 50 day simple moving average of $15.93 and a 200-day simple moving average of $12.96.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in XPEV. Van ECK Associates Corp increased its holdings in shares of XPeng by 4.8% during the third quarter. Van ECK Associates Corp now owns 222,337 shares of the company’s stock valued at $2,481,000 after purchasing an additional 10,148 shares during the period. Venturi Wealth Management LLC acquired a new position in XPeng during the 3rd quarter valued at about $110,000. Central Asset Investments & Management Holdings HK Ltd increased its stake in XPeng by 36.0% during the 3rd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock valued at $4,969,000 after buying an additional 108,000 shares during the period. Advisors Asset Management Inc. raised its position in shares of XPeng by 48.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company’s stock worth $604,000 after buying an additional 16,289 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in shares of XPeng by 14.2% in the 3rd quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock worth $3,573,000 after acquiring an additional 36,560 shares during the period. Institutional investors and hedge funds own 21.09% of the company’s stock.

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.