Point72 Hong Kong Ltd Takes $22.05 Million Position in XPeng Inc. (NYSE:XPEV)

Point72 Hong Kong Ltd acquired a new position in XPeng Inc. (NYSE:XPEV) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,810,097 shares of the company’s stock, valued at approximately $22,047,000. XPeng makes up 1.5% of Point72 Hong Kong Ltd’s holdings, making the stock its 11th largest holding.

Several other large investors also recently added to or reduced their stakes in XPEV. Allspring Global Investments Holdings LLC bought a new stake in XPeng during the third quarter valued at approximately $45,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of XPeng by 122.4% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock worth $39,000 after acquiring an additional 2,920 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in XPeng in the third quarter worth $110,000. Blue Trust Inc. increased its stake 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 during the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in XPeng during the third quarter valued at about $129,000. Institutional investors own 23.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on XPEV. Citigroup cut their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Bank of America decreased their price target on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective for the company. in a research note on Thursday, November 21st. Finally, China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price on the stock in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.05.

XPeng Stock Performance

Shares of XPeng stock opened at $12.05 on Friday. 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 Inc. has a 52-week low of $6.55 and a 52-week high of $17.17. The company’s 50 day moving average price is $12.07 and its 200-day moving average price is $9.42.

About XPeng

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.