Citigroup Cuts XPeng (NYSE:XPEV) Price Target to $13.70

XPeng (NYSE:XPEV) had its price target cut by Citigroup from $14.60 to $13.70 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently commented on the company. Bank of America decreased their price objective on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Macquarie upgraded XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Finally, JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $8.00 to $11.50 in a research report on Thursday, September 5th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, XPeng presently has an average rating of “Moderate Buy” and a consensus price target of $12.05.

XPeng Trading Down 3.0 %

Shares of XPEV stock opened at $11.92 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18. XPeng has a twelve month low of $6.55 and a twelve month high of $18.74. The company’s 50-day moving average price is $11.81 and its 200-day moving average price is $9.28. The stock has a market cap of $11.23 billion, a price-to-earnings ratio of -13.70 and a beta of 2.80.

XPeng (NYSE:XPEV) last posted its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. The firm 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 16.63%. As a group, equities analysts predict that XPeng will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On XPeng

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in XPeng during the 3rd quarter worth about $45,000. Natixis acquired a new position in shares of XPeng during the first quarter worth about $38,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of XPeng by 122.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock worth $39,000 after buying an additional 2,920 shares during the period. Venturi Wealth Management LLC acquired a new stake in XPeng in the third quarter valued at approximately $110,000. Finally, Blue Trust Inc. raised its holdings in XPeng by 2,615.9% in the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after acquiring an additional 9,391 shares in the last quarter. 23.05% of the stock is owned by hedge funds and other 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.