IQ EQ FUND MANAGEMENT IRELAND Ltd Reduces Stock Holdings in XPeng Inc. (NYSE:XPEV)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in shares of XPeng Inc. (NYSE:XPEV) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 107,898 shares of the company’s stock after selling 3,466 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in XPeng were worth $1,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Natixis bought a new stake in XPeng during the first quarter valued at approximately $38,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in XPeng by 122.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock worth $39,000 after purchasing an additional 2,920 shares during the period. Blue Trust Inc. lifted its position in 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 in the last quarter. 180 Wealth Advisors LLC purchased a new position in XPeng during the second quarter valued at $78,000. Finally, Susquehanna International Securities Ltd. purchased a new position in shares of XPeng during the 2nd quarter valued at about $129,000. Hedge funds and other institutional investors own 23.05% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on XPEV shares. Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Citigroup dropped their target price 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. raised XPeng from a “neutral” rating to an “overweight” rating and raised their price target for the company from $8.00 to $11.50 in a report on Thursday, September 5th. Finally, Bank of America dropped their price objective on XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $9.42.

XPeng Stock Down 7.5 %

Shares of XPEV opened at $10.23 on Friday. XPeng Inc. has a 52-week low of $6.55 and a 52-week high of $18.74. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $9.45 and a 200 day moving average of $8.46. The company has a market cap of $9.63 billion, a PE ratio of -6.91 and a beta of 2.79.

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