Headlands Technologies LLC Decreases Stock Position in XPeng Inc. (NYSE:XPEV)

Headlands Technologies LLC reduced its holdings in shares of XPeng Inc. (NYSE:XPEV) by 24.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 65,519 shares of the company’s stock after selling 21,370 shares during the period. Headlands Technologies LLC’s holdings in XPeng were worth $480,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Natixis acquired a new stake in shares of XPeng in the first quarter valued at approximately $38,000. Harel Insurance Investments & Financial Services Ltd. increased its position in XPeng by 122.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock worth $39,000 after buying an additional 2,920 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of XPeng in the fourth quarter worth $52,000. Blue Trust Inc. raised its holdings in shares of XPeng by 2,615.9% in the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock worth $75,000 after acquiring an additional 9,391 shares during the last quarter. Finally, 180 Wealth Advisors LLC purchased a new stake in shares of XPeng in the second quarter valued at $78,000. 23.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on XPEV shares. Daiwa Capital Markets raised shares of 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. raised shares of XPeng from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Daiwa America upgraded shares of XPeng to a “strong-buy” rating in a research report on Thursday, May 23rd. Bank of America cut their price target on XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, Citigroup decreased their price objective on XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. One 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $12.08.

XPeng Stock Performance

Shares of XPEV stock opened at $8.62 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of -5.82 and a beta of 2.75. XPeng Inc. has a one year low of $6.55 and a one year high of $18.74. The company has a 50 day moving average price of $7.86 and a 200 day moving average price of $8.11.

XPeng (NYSE:XPEV) last released its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. The firm had revenue of $1.12 billion for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. Sell-side analysts anticipate that XPeng Inc. will post -0.94 EPS for the current year.

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.