XPeng (NYSE:XPEV) Upgraded to “Strong-Buy” at Nomura Securities

Nomura Securities upgraded shares of XPeng (NYSE:XPEV) to a strong-buy rating in a research report report published on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Macquarie restated a “neutral” rating and set a $18.00 target price on shares of XPeng in a research note on Friday, February 7th. Daiwa Capital Markets reaffirmed a “neutral” rating and set a $24.00 price target on shares of XPeng in a report on Wednesday. Citigroup raised XPeng from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $13.70 to $29.00 in a report on Monday, March 10th. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target on the stock in a research report on Friday, November 22nd. Finally, Bank of America boosted their price target on shares of XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.84.

XPeng Price Performance

Shares of NYSE:XPEV opened at $22.07 on Tuesday. XPeng has a one year low of $6.55 and a one year high of $27.16. The stock has a market cap of $20.79 billion, a PE ratio of -25.36 and a beta of 2.68. The business’s fifty day moving average price is $18.10 and its two-hundred day moving average price is $13.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

XPeng (NYSE:XPEV) last issued its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($1.36) by $1.17. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. On average, analysts forecast that XPeng will post -0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XPEV. Advisors Asset Management Inc. increased its stake in XPeng by 48.9% in the third quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company’s stock valued at $604,000 after acquiring an additional 16,289 shares during the period. Citigroup Inc. raised its holdings in XPeng by 14.2% in the third quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock worth $3,573,000 after purchasing an additional 36,560 shares during the period. FMR LLC increased its position in shares of XPeng by 1,053.8% during the third quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after acquiring an additional 295,536 shares in the last quarter. Flow Traders U.S. LLC bought a new position in XPeng in the third quarter valued at $360,000. Finally, Point72 Hong Kong Ltd acquired a new stake in XPeng in the third quarter valued at $22,047,000. Institutional investors own 21.09% of the company’s stock.

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.