SIH Partners LLLP Reduces Stake in XPeng Inc. (NYSE:XPEV)

SIH Partners LLLP trimmed its holdings in XPeng Inc. (NYSE:XPEV) by 7.0% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 416,039 shares of the company’s stock after selling 31,161 shares during the quarter. XPeng comprises approximately 2.9% of SIH Partners LLLP’s portfolio, making the stock its 7th biggest position. SIH Partners LLLP’s holdings in XPeng were worth $3,050,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can grew its position in shares of XPeng by 212.1% during the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after acquiring an additional 2,724,549 shares during the period. Electron Capital Partners LLC bought a new stake in XPeng during the fourth quarter valued at about $26,047,000. Primecap Management Co. CA increased its position in XPeng by 5.6% in the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock worth $120,369,000 after buying an additional 872,160 shares in the last quarter. Point72 Europe London LLP bought a new position in shares of XPeng in the second quarter worth about $5,923,000. Finally, Ghisallo Capital Management LLC purchased a new position in shares of XPeng during the 4th quarter valued at about $9,537,000. 23.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

XPEV has been the topic of several analyst reports. Citigroup lowered 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. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $8.00 to $11.50 in a research note 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 lowered their price objective on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $9.42.

XPeng Stock Up 8.9 %

Shares of XPeng stock opened at $12.71 on Friday. XPeng Inc. has a 1 year low of $6.55 and a 1 year high of $18.74. 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 has a market cap of $11.97 billion, a price-to-earnings ratio of -8.59 and a beta of 2.75. The firm’s 50-day moving average is $8.23 and its two-hundred day moving average is $8.16.

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