XPeng Inc. (NYSE:XPEV – Get Free Report)’s share price gapped up prior to trading on Friday . The stock had previously closed at $15.89, but opened at $16.99. XPeng shares last traded at $16.65, with a volume of 3,541,617 shares trading hands.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on XPEV shares. Morgan Stanley reissued an “overweight” rating and issued a $25.40 target price on shares of XPeng in a research report on Friday. Citigroup boosted their price target on XPeng from $6.28 to $15.00 and gave the company a “sell” rating in a research note on Wednesday, August 2nd. Bank of America raised XPeng from a “neutral” rating to a “buy” rating and boosted their price target for the company from $16.30 to $22.00 in a research note on Monday, August 21st. Macquarie raised XPeng from an “underperform” rating to an “outperform” rating in a research note on Thursday, July 27th. Finally, The Goldman Sachs Group initiated coverage on XPeng in a research note on Tuesday, July 11th. They issued a “buy” rating and a $18.10 price target for the company. Four analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.18.
Get Our Latest Stock Report on XPeng
XPeng Stock Performance
XPeng (NYSE:XPEV – Get Free Report) last released its quarterly earnings results on Friday, August 18th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.16). The firm had revenue of $698.18 million for the quarter, compared to the consensus estimate of $792.50 million. XPeng had a negative return on equity of 27.32% and a negative net margin of 46.94%. As a group, equities research analysts forecast that XPeng Inc. will post -1.68 EPS for the current year.
Institutional Trading of XPeng
Hedge funds and other institutional investors have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. bought a new stake in shares of XPeng during the first quarter worth about $28,000. Natixis boosted its holdings in XPeng by 355.6% in the second quarter. Natixis now owns 2,178 shares of the company’s stock valued at $29,000 after acquiring an additional 1,700 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in XPeng by 22.6% in the second quarter. Lindbrook Capital LLC now owns 2,368 shares of the company’s stock valued at $32,000 after acquiring an additional 437 shares during the last quarter. Ronald Blue Trust Inc. boosted its holdings in XPeng by 264.6% in the second quarter. Ronald Blue Trust Inc. now owns 3,219 shares of the company’s stock valued at $36,000 after acquiring an additional 2,336 shares during the last quarter. Finally, CWM LLC boosted its holdings in XPeng by 24.2% in the second quarter. CWM LLC now owns 2,840 shares of the company’s stock valued at $38,000 after acquiring an additional 554 shares during the last quarter. 11.86% of the stock is currently owned by institutional investors.
About XPeng
XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EV) 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, maintenance, super charging, technical support, auto financing, insurance technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.
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