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

XPeng (NYSE:XPEV) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued on Thursday, MarketBeat.com reports. They currently have a $12.50 price objective on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 4.87% from the company’s current price.

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

XPeng Trading Down 3.0 %

NYSE XPEV opened at $11.92 on Thursday. The business’s fifty day moving average is $11.81 and its 200-day moving average is $9.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31. The stock has a market capitalization of $11.23 billion, a price-to-earnings ratio of -13.70 and a beta of 2.80. XPeng has a one year low of $6.55 and a one year high of $18.74.

XPeng (NYSE:XPEV) last announced its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. XPeng had a negative return on equity of 16.63% and a negative net margin of 15.35%. The company had revenue of $1.12 billion during the quarter. Equities research analysts predict that XPeng will post -0.97 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its position in shares of XPeng by 212.1% during the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after acquiring an additional 2,724,549 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in XPeng during the third quarter valued at approximately $22,047,000. Primecap Management Co. CA grew its stake in XPeng by 5.6% in the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock worth $120,369,000 after buying an additional 872,160 shares in the last quarter. Point72 Europe London LLP bought a new position in shares of XPeng in the 2nd quarter worth $5,923,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of XPeng by 100.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after buying an additional 550,000 shares in the last quarter. 23.05% of the stock is owned by institutional investors.

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.