China Renaissance Upgrades XPeng (NYSE:XPEV) to “Buy”

XPeng (NYSE:XPEV) was upgraded by stock analysts at China Renaissance from a “hold” rating to a “buy” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm presently has a $16.70 price objective on the stock. China Renaissance’s target price indicates a potential upside of 36.16% from the company’s previous close.

A number of other equities research analysts also recently weighed in on XPEV. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Bank of America reduced their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. The Goldman Sachs Group lowered shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target on the stock. in a research note on Thursday. Citigroup reduced their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Sanford C. Bernstein upped their price objective on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.05.

XPeng Stock Performance

Shares of XPEV opened at $12.27 on Friday. The company’s 50 day moving average price is $11.75 and its 200 day moving average price is $9.26. The company has a market capitalization of $11.55 billion, a PE ratio of -14.10 and a beta of 2.80. XPeng has a 52 week low of $6.55 and a 52 week high of $18.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50.

XPeng (NYSE:XPEV) last announced its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. XPeng had a negative return on equity of 16.63% and a negative net margin of 15.35%. The firm had revenue of $1.12 billion for the quarter. Research analysts expect that XPeng will post -0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On XPeng

A number of hedge funds have recently bought and sold shares of XPEV. Sei Investments Co. lifted its position in shares of XPeng by 83.0% during the 1st quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock worth $994,000 after purchasing an additional 58,700 shares during the last quarter. Natixis bought a new stake in shares of XPeng in the first quarter valued at approximately $38,000. Alpine Global Management LLC acquired a new stake in shares of XPeng in the first quarter worth $307,000. Tidal Investments LLC increased its position in XPeng by 25.2% during the first quarter. Tidal Investments LLC now owns 93,420 shares of the company’s stock worth $717,000 after acquiring an additional 18,826 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in XPeng by 100.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after purchasing an additional 550,000 shares during the last quarter. 23.05% of the stock is currently owned by 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.