XPeng (NYSE:XPEV) Price Target Cut to $13.70 by Analysts at Citigroup

XPeng (NYSE:XPEV) had its price objective lowered by Citigroup from $14.60 to $13.70 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also issued reports on the company. Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. upgraded 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 reduced their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, XPeng presently has a consensus rating of “Moderate Buy” and an average price target of $12.05.

XPeng Trading Down 3.1 %

XPeng stock opened at $11.91 on Wednesday. XPeng has a 1 year low of $6.55 and a 1 year high of $18.74. The firm’s 50 day moving average price is $11.81 and its two-hundred day moving average price is $9.29. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of -13.69 and a beta of 2.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.31 and a current ratio of 1.37.

Institutional Trading of XPeng

Hedge funds have recently made changes to their positions in the stock. Sei Investments Co. increased its stake in XPeng by 83.0% in the 1st quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock valued at $994,000 after buying an additional 58,700 shares during the period. Natixis acquired a new position in shares of XPeng in the first quarter worth $38,000. Alpine Global Management LLC purchased a new stake in shares of XPeng during the first quarter worth $307,000. Tidal Investments LLC boosted its position in XPeng by 25.2% during the first quarter. Tidal Investments LLC now owns 93,420 shares of the company’s stock valued at $717,000 after purchasing an additional 18,826 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in XPeng by 100.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after purchasing an additional 550,000 shares in the last quarter. 23.05% of the stock is owned by hedge funds and other 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.