Citigroup Inc. Buys 36,560 Shares of XPeng Inc. (NYSE:XPEV)

Citigroup Inc. raised its stake in XPeng Inc. (NYSE:XPEV) by 14.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 293,321 shares of the company’s stock after purchasing an additional 36,560 shares during the quarter. Citigroup Inc.’s holdings in XPeng were worth $3,573,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Tidal Investments LLC grew its holdings in shares of XPeng by 25.2% during the 1st 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. 180 Wealth Advisors LLC bought a new position in shares of XPeng during the 2nd quarter valued at $78,000. Blue Trust Inc. grew its holdings in shares of XPeng by 2,615.9% during the 2nd 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. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of XPeng by 122.4% during the 2nd 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. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of XPeng by 119.6% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 111,364 shares of the company’s stock valued at $816,000 after purchasing an additional 60,643 shares during the last quarter. Institutional investors own 23.05% of the company’s stock.

XPeng Trading Up 0.7 %

NYSE:XPEV opened at $12.79 on Thursday. The company has a 50-day moving average price of $12.22 and a 200-day moving average price of $9.52. XPeng Inc. has a 12 month low of $6.55 and a 12 month high of $16.98. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The stock has a market cap of $12.04 billion, a price-to-earnings ratio of -14.70 and a beta of 2.76.

Analyst Upgrades and Downgrades

XPEV has been the topic of several recent research reports. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and increased their price target for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Bank of America dropped their price target 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. Finally, The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a research report on Thursday, November 21st. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, XPeng has a consensus rating of “Moderate Buy” and an average price target of $12.05.

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.