Alpine Global Management LLC Takes $307,000 Position in XPeng Inc. (NYSE:XPEV)

Alpine Global Management LLC acquired a new stake in shares of XPeng Inc. (NYSE:XPEV) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 40,000 shares of the company’s stock, valued at approximately $307,000.

A number of other large investors have also recently made changes to their positions in the stock. Ballentine Partners LLC raised its stake in XPeng by 14.6% during the 4th quarter. Ballentine Partners LLC now owns 13,557 shares of the company’s stock valued at $198,000 after purchasing an additional 1,729 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in XPeng by 9.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 77,400 shares of the company’s stock valued at $1,129,000 after purchasing an additional 7,000 shares during the period. Vontobel Holding Ltd. raised its stake in XPeng by 6.3% during the 4th quarter. Vontobel Holding Ltd. now owns 71,145 shares of the company’s stock valued at $1,038,000 after purchasing an additional 4,227 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in XPeng by 25.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,550 shares of the company’s stock valued at $154,000 after purchasing an additional 2,151 shares during the period. Finally, Rakuten Securities Inc. bought a new stake in XPeng during the 4th quarter valued at approximately $59,000. 23.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on XPEV shares. Macquarie started coverage on XPeng in a research note on Monday, April 15th. They issued a “neutral” rating and a $7.00 price objective on the stock. Bank of America cut their target price on XPeng from $12.70 to $11.70 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Citigroup raised XPeng from a “sell” rating to a “neutral” rating and boosted their target price for the company from $7.70 to $8.30 in a research report on Tuesday, June 25th. Daiwa America raised XPeng to a “strong-buy” rating in a research report on Thursday, May 23rd. Finally, Daiwa Capital Markets raised XPeng from a “neutral” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.93.

XPeng Stock Up 3.8 %

Shares of XPEV stock traded up $0.31 during mid-day trading on Friday, hitting $8.51. The stock had a trading volume of 11,778,600 shares, compared to its average volume of 12,296,679. XPeng Inc. has a 12-month low of $6.55 and a 12-month high of $23.62. The firm has a market capitalization of $8.02 billion, a P/E ratio of -5.75 and a beta of 2.76. The firm’s 50-day moving average is $8.09 and its two-hundred day moving average is $8.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.32.

XPeng (NYSE:XPEV) last issued its earnings results on Tuesday, May 21st. The company reported ($0.20) earnings per share for the quarter. XPeng had a negative return on equity of 28.16% and a negative net margin of 28.16%. The firm had revenue of $906.90 million during the quarter. On average, analysts predict that XPeng Inc. will post -0.91 earnings per share for the current fiscal year.

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.