Vontobel Holding Ltd. Decreases Holdings in XPeng Inc. (NYSE:XPEV)

Vontobel Holding Ltd. reduced its position in XPeng Inc. (NYSE:XPEV) by 54.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,137 shares of the company’s stock after selling 24,822 shares during the quarter. Vontobel Holding Ltd.’s holdings in XPeng were worth $257,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of XPEV. Sei Investments Co. grew its stake in XPeng by 83.0% during the 1st quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock worth $994,000 after buying an additional 58,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of XPeng by 35.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company’s stock worth $7,516,000 after acquiring an additional 257,300 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of XPeng by 17.6% during the first quarter. Van ECK Associates Corp now owns 232,428 shares of the company’s stock valued at $1,785,000 after acquiring an additional 34,788 shares in the last quarter. Natixis purchased a new position in shares of XPeng in the 1st quarter valued at approximately $38,000. Finally, Renaissance Technologies LLC acquired a new stake in XPeng in the 2nd quarter worth approximately $1,006,000. 23.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $8.00 to $11.50 in a research report on Thursday, September 5th. Bank of America reduced their price objective on XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, Citigroup cut 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. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $9.42.

XPeng Stock Up 1.1 %

XPeng stock opened at $11.16 on Thursday. XPeng Inc. has a 52 week low of $6.55 and a 52 week high of $18.74. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of -7.52 and a beta of 2.79. The business’s 50-day moving average price is $9.69 and its 200 day moving average price is $8.55. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last released its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. The firm had revenue of $1.12 billion for the quarter. As a group, sell-side analysts anticipate that XPeng Inc. will post -0.96 earnings per share for the current 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.