XPeng (NYSE:XPEV) Upgraded by Macquarie to “Outperform”

Macquarie upgraded shares of XPeng (NYSE:XPEV) from a neutral rating to an outperform rating in a research report sent to investors on Friday, Marketbeat.com reports.

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

XPeng Stock Performance

Shares of XPEV opened at $8.05 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18. The firm’s fifty day simple moving average is $7.74 and its two-hundred day simple moving average is $8.14. XPeng has a 12 month low of $6.55 and a 12 month high of $19.96. The stock has a market capitalization of $7.58 billion, a P/E ratio of -5.44 and a beta of 2.76.

Institutional Trading of XPeng

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Primecap Management Co. CA lifted its stake in shares of XPeng by 5.6% in the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after buying an additional 872,160 shares in the last quarter. Bank of Montreal Can lifted its position in XPeng by 212.1% in the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after acquiring an additional 2,724,549 shares in the last quarter. Norges Bank acquired a new position in XPeng during the 4th quarter valued at about $41,993,000. Robeco Schweiz AG increased its holdings in XPeng by 3.8% during the 4th quarter. Robeco Schweiz AG now owns 2,336,330 shares of the company’s stock worth $34,087,000 after purchasing an additional 85,000 shares in the last quarter. Finally, Electron Capital Partners LLC purchased a new stake in shares of XPeng in the fourth quarter worth approximately $26,047,000. Institutional investors own 23.05% 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.