Azzad Asset Management Inc. ADV Purchases New Position in XPeng Inc. (NYSE:XPEV)

Azzad Asset Management Inc. ADV acquired a new stake in XPeng Inc. (NYSE:XPEV) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 14,107 shares of the company’s stock, valued at approximately $172,000.

Several other institutional investors have also added to or reduced their stakes in XPEV. Bank of Montreal Can raised its stake in shares of XPeng by 212.1% in the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock worth $31,910,000 after purchasing an additional 2,724,549 shares during the last quarter. Electron Capital Partners LLC bought a new position in XPeng during the 4th quarter valued at about $26,047,000. Primecap Management Co. CA lifted its stake in XPeng by 5.6% during the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after acquiring an additional 872,160 shares during the period. Point72 Europe London LLP purchased a new stake in shares of XPeng during the 2nd quarter valued at about $5,923,000. Finally, Russell Investments Group Ltd. grew its stake in shares of XPeng by 73.7% in the first quarter. Russell Investments Group Ltd. now owns 1,415,568 shares of the company’s stock worth $10,872,000 after acquiring an additional 600,437 shares during the period. 23.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on XPEV shares. Bank of America decreased their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Finally, Citigroup reduced their price target on shares of XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. One 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 company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $9.42.

XPeng Trading Down 7.3 %

Shares of XPEV stock opened at $12.12 on Wednesday. The company has a market cap of $11.42 billion, a PE ratio of -8.10 and a beta of 2.79. XPeng Inc. has a 1 year low of $6.55 and a 1 year high of $18.74. The stock’s 50 day simple moving average is $8.76 and its two-hundred day simple moving average is $8.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31.

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

XPeng Company 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.