Millennium Management LLC Lowers Position in XPeng Inc. (NYSE:XPEV)

Millennium Management LLC trimmed its holdings in shares of XPeng Inc. (NYSE:XPEV) by 15.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,261,406 shares of the company’s stock after selling 1,753,166 shares during the period. Millennium Management LLC owned approximately 0.98% of XPeng worth $67,886,000 as of its most recent SEC filing.

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

XPeng Trading Up 9.0 %

NYSE:XPEV opened at $12.72 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. XPeng Inc. has a 12 month low of $6.55 and a 12 month high of $18.74. The company has a 50 day simple moving average of $8.23 and a two-hundred day simple moving average of $8.13.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Citigroup decreased their price objective on shares of 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 objective for the stock from $8.00 to $11.50 in a report on Thursday, September 5th. Finally, Bank of America decreased their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. One equities research analyst has 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 data from MarketBeat.com, XPeng has an average rating of “Buy” and a consensus target price of $9.42.

XPeng 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.