XPeng Inc. (NYSE:XPEV) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in XPeng Inc. (NYSE:XPEV) by 14.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 253,875 shares of the company’s stock after purchasing an additional 31,538 shares during the period. Van ECK Associates Corp’s holdings in XPeng were worth $3,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TMT General Partner Ltd bought a new position in shares of XPeng during the 4th quarter valued at about $205,501,000. Point72 Hong Kong Ltd acquired a new stake in XPeng during the third quarter valued at approximately $22,047,000. Y Intercept Hong Kong Ltd bought a new stake in XPeng during the third quarter worth approximately $6,233,000. FMR LLC grew its position in XPeng by 1,053.8% in the third quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after buying an additional 295,536 shares during the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd increased its holdings in shares of XPeng by 36.0% in the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock valued at $4,969,000 after buying an additional 108,000 shares in the last quarter. 21.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on XPEV shares. Citigroup reduced their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Sanford C. Bernstein upped their target price on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective for the company in a research note on Friday, November 22nd. Macquarie restated a “neutral” rating and set a $18.00 price objective on shares of XPeng in a research report on Friday, February 7th. Finally, The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target on the stock. in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.91.

XPeng Trading Down 1.6 %

Shares of NYSE:XPEV opened at $17.70 on Friday. The company has a market cap of $16.67 billion, a P/E ratio of -20.34 and a beta of 2.77. The stock’s 50-day moving average is $14.15 and its 200-day moving average is $11.82. XPeng Inc. has a 52-week low of $6.55 and a 52-week high of $18.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

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.