XPeng (NYSE:XPEV) Upgraded to Overweight by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of XPeng (NYSE:XPEV) from a neutral rating to an overweight rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $11.50 target price on the stock, up from their previous target price of $8.00.

Several other research analysts have also issued reports on XPEV. Daiwa America upgraded XPeng to a strong-buy rating in a research report on Thursday, May 23rd. Daiwa Capital Markets upgraded XPeng from a neutral rating to a buy rating and set a $11.00 target price for the company in a research report on Thursday, May 23rd. Macquarie upgraded XPeng from a neutral rating to an outperform rating in a research report on Friday, August 30th. Citigroup dropped their target price on XPeng from $8.30 to $7.60 and set a neutral rating for the company in a research report on Wednesday, August 21st. Finally, Bank of America dropped their target price on XPeng from $11.00 to $10.00 and set a buy rating for the company in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Buy and a consensus target price of $12.08.

XPeng Stock Performance

XPeng stock opened at $8.83 on Thursday. XPeng has a 1-year low of $6.55 and a 1-year high of $19.25. The company’s 50-day moving average is $7.78 and its 200 day moving average is $8.13. The firm has a market capitalization of $8.31 billion, a P/E ratio of -5.96 and a beta of 2.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31.

Institutional Trading of XPeng

Institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in XPeng by 25.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,550 shares of the company’s stock worth $154,000 after buying an additional 2,151 shares in the last quarter. Jump Financial LLC bought a new position in XPeng in the fourth quarter worth approximately $326,000. Norges Bank bought a new position in XPeng in the fourth quarter worth approximately $41,993,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in XPeng in the fourth quarter worth approximately $527,000. Finally, Primecap Management Co. CA raised its stake in XPeng by 5.3% in the fourth quarter. Primecap Management Co. CA now owns 12,497,823 shares of the company’s stock worth $182,343,000 after buying an additional 624,926 shares in the last quarter. 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.