Bank of Montreal Can Has $31.91 Million Stake in XPeng Inc. (NYSE:XPEV)

Bank of Montreal Can lifted its stake in shares of XPeng Inc. (NYSE:XPEV) by 212.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,008,846 shares of the company’s stock after acquiring an additional 2,724,549 shares during the period. Bank of Montreal Can owned 0.43% of XPeng worth $31,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Primecap Management Co. CA increased its stake in 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 purchasing an additional 872,160 shares in the last quarter. Norges Bank bought a new stake in XPeng in the 4th quarter valued at about $41,993,000. Robeco Schweiz AG increased its position in XPeng by 3.8% in the 4th quarter. Robeco Schweiz AG now owns 2,336,330 shares of the company’s stock valued at $34,087,000 after buying an additional 85,000 shares in the last quarter. Electron Capital Partners LLC acquired a new position in XPeng during the 4th quarter worth approximately $26,047,000. Finally, Russell Investments Group Ltd. boosted its holdings in XPeng by 73.7% in the first quarter. Russell Investments Group Ltd. now owns 1,415,568 shares of the company’s stock worth $10,872,000 after acquiring an additional 600,437 shares in the last quarter. 23.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

XPEV has been the subject of several recent research reports. Citigroup decreased their price objective on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a report on Wednesday, August 21st. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $11.50 in a research note on Thursday, September 5th. Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Finally, Bank of America decreased their target price 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. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, XPeng has a consensus rating of “Buy” and a consensus price target of $9.42.

XPeng Price Performance

Shares of NYSE:XPEV opened at $11.66 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 stock has a market cap of $10.98 billion, a PE ratio of -7.96 and a beta of 2.75. The stock’s fifty day simple moving average is $8.08 and its two-hundred day simple moving average is $8.11. XPeng Inc. has a 1-year low of $6.55 and a 1-year high of $18.74.

XPeng (NYSE:XPEV) last released its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. The firm had revenue of $1.12 billion for the quarter. As a group, analysts forecast that XPeng Inc. will post -0.95 EPS for the current fiscal 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.