Citigroup Issues Pessimistic Forecast for XPeng (NYSE:XPEV) Stock Price

XPeng (NYSE:XPEV) had its target price reduced by equities researchers at Citigroup from $14.60 to $13.70 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 11.70% from the company’s current price.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and upped their price target for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Bank of America lowered their price target on XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Finally, Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Three equities research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.39.

XPeng Stock Down 3.0 %

XPeng stock opened at $12.27 on Wednesday. The business has a 50-day simple moving average of $11.75 and a 200 day simple moving average of $9.26. XPeng has a 52 week low of $6.55 and a 52 week high of $18.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50.

XPeng (NYSE:XPEV) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. XPeng had a negative return on equity of 16.63% and a negative net margin of 15.35%. The firm had revenue of $1.12 billion during the quarter. As a group, sell-side analysts predict that XPeng will post -0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in XPeng in the third quarter worth approximately $915,000. Y Intercept Hong Kong Ltd purchased a new stake in XPeng during the third quarter worth $6,233,000. Quantinno Capital Management LP lifted its holdings in XPeng by 99.2% during the third quarter. Quantinno Capital Management LP now owns 27,153 shares of the company’s stock worth $331,000 after buying an additional 13,520 shares during the period. Point72 Italy S.r.l. purchased a new stake in XPeng during the third quarter worth $1,160,000. Finally, Polymer Capital Management HK LTD purchased a new stake in XPeng during the third quarter worth $487,000. Institutional investors own 23.05% 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.