Hsbc Holdings PLC Sells 1,549,623 Shares of XPeng Inc. (NYSE:XPEV)

Hsbc Holdings PLC lessened its stake in shares of XPeng Inc. (NYSE:XPEV) by 81.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 359,724 shares of the company’s stock after selling 1,549,623 shares during the quarter. Hsbc Holdings PLC’s holdings in XPeng were worth $2,626,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in XPEV. Harel Insurance Investments & Financial Services Ltd. boosted its position in 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 in the last quarter. Scarborough Advisors LLC bought a new stake in shares of XPeng in the 4th quarter valued at about $52,000. Signaturefd LLC grew its position in shares of XPeng by 19.4% in the 2nd quarter. Signaturefd LLC now owns 24,647 shares of the company’s stock worth $181,000 after buying an additional 4,002 shares during the last quarter. Natixis bought a new position in shares of XPeng during the 1st quarter worth approximately $38,000. Finally, Ballentine Partners LLC lifted its position in XPeng by 47.0% during the first quarter. Ballentine Partners LLC now owns 19,933 shares of the company’s stock valued at $153,000 after acquiring an additional 6,376 shares during the last quarter. 23.05% of the stock is currently owned by hedge funds and other institutional investors.

XPeng Price Performance

NYSE XPEV opened at $10.44 on Thursday. The company has a market cap of $9.83 billion, a price-to-earnings ratio of -6.82 and a beta of 2.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31. The stock’s fifty day moving average price is $8.04 and its 200 day moving average price is $8.10. XPeng Inc. has a 1 year low of $6.55 and a 1 year high of $18.74.

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

Analyst Ratings Changes

Several equities analysts have issued reports on XPEV shares. Citigroup cut their price target on shares of XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and upped their target price for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Macquarie upgraded XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Finally, Bank of America dropped their price target on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently 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.