XPeng (NYSE:XPEV) Cut to Hold at Daiwa America

Daiwa America downgraded shares of XPeng (NYSE:XPEV) from a strong-buy rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. UBS Group raised XPeng from a “sell” rating to a “neutral” rating and upped their price target for the company from $8.80 to $18.00 in a research report on Monday, February 24th. Nomura Securities raised XPeng to a “strong-buy” rating in a research report on Tuesday. Daiwa Capital Markets reaffirmed a “neutral” rating and set a $24.00 price target on shares of XPeng in a research report on Wednesday. Citigroup raised XPeng from a “neutral” rating to a “buy” rating and upped their price target for the company from $13.70 to $29.00 in a research report on Monday, March 10th. Finally, Sanford C. Bernstein upped their price target on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.84.

XPeng Stock Down 1.2 %

XPEV stock opened at $21.81 on Wednesday. The stock’s fifty day simple moving average is $18.29 and its two-hundred day simple moving average is $14.02. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. XPeng has a 1-year low of $6.55 and a 1-year high of $27.16. The stock has a market cap of $20.54 billion, a P/E ratio of -25.06 and a beta of 2.68.

XPeng (NYSE:XPEV) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($1.36) by $1.17. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $16.11 billion. Analysts expect that XPeng will post -0.96 EPS for the current year.

Hedge Funds Weigh In On XPeng

A number of institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in XPeng in the 4th quarter worth about $70,000. Vise Technologies Inc. bought a new position in shares of XPeng during the 4th quarter valued at about $142,000. Vident Advisory LLC increased its position in shares of XPeng by 7.6% during the 4th quarter. Vident Advisory LLC now owns 53,632 shares of the company’s stock valued at $634,000 after purchasing an additional 3,810 shares during the last quarter. Twinbeech Capital LP increased its position in shares of XPeng by 22.4% during the 4th quarter. Twinbeech Capital LP now owns 407,097 shares of the company’s stock valued at $4,812,000 after purchasing an additional 74,574 shares during the last quarter. Finally, Polar Capital Holdings Plc bought a new position in shares of XPeng during the 4th quarter valued at about $6,596,000. 21.09% of the stock is currently owned by institutional investors.

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.