XPeng (NYSE:XPEV) Downgraded by The Goldman Sachs Group to Neutral

The Goldman Sachs Group downgraded shares of XPeng (NYSE:XPEV) from a buy rating to a neutral rating in a research report released on Thursday, MarketBeat Ratings reports. They currently have $12.50 price target on the stock.

XPEV has been the topic of a number of other research reports. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $11.50 in a report on Thursday, September 5th. Citigroup lowered their price target on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research report on Wednesday. Bank of America cut their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Sanford C. Bernstein boosted their target price on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.05.

XPeng Price Performance

Shares of XPeng stock opened at $11.91 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.31. The business has a 50 day simple moving average of $11.81 and a two-hundred day simple moving average of $9.29. The stock has a market capitalization of $11.22 billion, a P/E ratio of -13.69 and a beta of 2.80. XPeng has a 12 month low of $6.55 and a 12 month high of $18.74.

Institutional Investors Weigh In On XPeng

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Natixis purchased a new position in shares of XPeng during the 1st quarter worth $38,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake 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 worth $39,000 after buying an additional 2,920 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of XPeng during the third quarter valued at about $45,000. Blue Trust Inc. raised its stake in shares of XPeng by 2,615.9% in the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after acquiring an additional 9,391 shares during the period. Finally, 180 Wealth Advisors LLC acquired a new position in shares of XPeng in the 2nd quarter worth approximately $78,000. Hedge funds and other institutional investors own 23.05% 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.