XPeng (NYSE:XPEV) Downgraded by Macquarie

Macquarie cut shares of XPeng (NYSE:XPEVGet Rating) from an outperform rating to a neutral rating in a research note published on Wednesday morning, Marketbeat reports. They currently have $25.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Bank of America cut their target price on XPeng from $46.00 to $40.00 and set a buy rating on the stock in a research report on Tuesday, May 24th. Citigroup lifted their target price on XPeng from $36.70 to $51.59 and gave the company a buy rating in a research report on Tuesday, June 21st. JPMorgan Chase & Co. cut their price objective on XPeng from $42.00 to $35.00 in a research report on Tuesday, May 24th. Nomura cut XPeng from a buy rating to a neutral rating and cut their price objective for the stock from $64.60 to $36.30 in a research report on Thursday, June 30th. Finally, Barclays cut their price objective on XPeng from $39.00 to $30.00 and set an overweight rating on the stock in a research report on Tuesday, May 24th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $40.57.

XPeng Trading Down 3.2 %

NYSE XPEV opened at $23.33 on Wednesday. The company has a market cap of $19.96 billion, a price-to-earnings ratio of -21.60 and a beta of 3.11. XPeng has a 52 week low of $18.01 and a 52 week high of $56.45. The business has a 50 day moving average price of $27.57 and a 200-day moving average price of $28.70. The company has a quick ratio of 2.11, a current ratio of 2.29 and a debt-to-equity ratio of 0.09.

XPeng (NYSE:XPEVGet Rating) last announced its earnings results on Monday, May 23rd. The company reported ($0.32) earnings per share (EPS) for the quarter. The company had revenue of $1.18 billion for the quarter. XPeng had a negative net margin of 22.63% and a negative return on equity of 14.59%. As a group, equities analysts expect that XPeng will post -3.69 earnings per share for the current fiscal year.

Institutional Trading of XPeng

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Alberta Investment Management Corp raised its stake in shares of XPeng by 314.4% during the 4th quarter. Alberta Investment Management Corp now owns 277,245 shares of the company’s stock valued at $13,954,000 after purchasing an additional 210,345 shares during the period. Oxbow Advisors LLC bought a new stake in shares of XPeng during the 4th quarter valued at $215,000. Paradigm Financial Advisors LLC increased its stake in XPeng by 33.3% in the 4th quarter. Paradigm Financial Advisors LLC now owns 18,168 shares of the company’s stock worth $914,000 after acquiring an additional 4,538 shares during the last quarter. Geode Capital Management LLC increased its stake in XPeng by 13.6% in the 4th quarter. Geode Capital Management LLC now owns 1,584,405 shares of the company’s stock worth $79,092,000 after acquiring an additional 189,355 shares during the last quarter. Finally, Element Pointe Advisors LLC increased its stake in XPeng by 34.7% in the 4th quarter. Element Pointe Advisors LLC now owns 30,286 shares of the company’s stock worth $1,524,000 after acquiring an additional 7,802 shares during the last quarter. 27.01% of the stock is currently owned by institutional investors.

About XPeng

(Get Rating)

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. It offers SUVs under the G3 and G3i names; four-door sports sedans under the P7 name; and family sedans under the P5 name. The company also provides sales contracts, maintenance, super charging, vehicle leasing, insurance agency, ride-hailing, technical support, automotive loan referral and auto financing, music subscription, and other services.

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