XPeng (NYSE:XPEV) Upgraded at China Renaissance

China Renaissance upgraded shares of XPeng (NYSE:XPEV) from a hold rating to a buy rating in a research note released on Friday, Marketbeat.com reports. China Renaissance currently has $16.70 price objective on the stock.

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

XPeng Stock Performance

Shares of XPeng stock opened at $11.92 on Friday. XPeng has a one year low of $6.55 and a one year high of $18.74. The company has a current ratio of 1.37, a quick ratio of 1.31 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average price of $11.81 and a 200-day moving average price of $9.28.

XPeng (NYSE:XPEV) last announced its quarterly 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 15.35% and a negative return on equity of 16.92%. Equities analysts forecast that XPeng will post -0.97 EPS for the current year.

Hedge Funds Weigh In On XPeng

A number of large investors have recently modified their holdings of XPEV. Sei Investments Co. raised its position in shares of XPeng by 83.0% in the first quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock valued at $994,000 after purchasing an additional 58,700 shares during the period. Natixis acquired a new position in shares of XPeng in the 1st quarter worth approximately $38,000. Alpine Global Management LLC acquired a new position in shares of XPeng during the 1st quarter valued at $307,000. Tidal Investments LLC raised its holdings in XPeng by 25.2% during the first quarter. Tidal Investments LLC now owns 93,420 shares of the company’s stock worth $717,000 after buying an additional 18,826 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of XPeng by 100.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after purchasing an additional 550,000 shares during the last quarter. 23.05% of the stock is currently owned by institutional investors and hedge funds.

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.