Shares of XPeng Inc. (NYSE:XPEV – Get Free Report) have been given a consensus rating of “Buy” by the seven research firms that are presently covering the firm, MarketBeat reports. One 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 company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $12.08.
A number of equities analysts have weighed in on the company. Macquarie upgraded XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Daiwa America upgraded XPeng to a “strong-buy” rating in a research note 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 note on Thursday, May 23rd. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and increased their target price for the company from $8.00 to $11.50 in a research note on Thursday, September 5th. Finally, Citigroup reduced their target price on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a research note on Wednesday, August 21st.
View Our Latest Report on XPEV
XPeng Stock Down 5.7 %
Institutional Investors Weigh In On XPeng
Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of XPeng in the fourth quarter valued at approximately $41,993,000. Bank of Montreal Can raised its stake in XPeng by 212.1% during 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. Electron Capital Partners LLC acquired a new position in XPeng during the 4th quarter worth $26,047,000. Primecap Management Co. CA grew 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 worth $120,369,000 after purchasing an additional 872,160 shares in the last quarter. Finally, Point72 Europe London LLP bought a new position in XPeng in the 2nd quarter valued at about $5,923,000. 23.05% of the stock is currently owned by institutional investors.
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.
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