XPeng (NYSE:XPEV) Upgraded to Buy at Citigroup

XPeng (NYSE:XPEV) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Monday,Benzinga reports. The firm currently has a $29.00 price target on the stock, up from their prior price target of $13.70. Citigroup’s price target indicates a potential upside of 23.27% from the company’s current price.

XPEV has been the topic of several other research reports. UBS Group raised shares of XPeng from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $8.80 to $18.00 in a research note on Monday, February 24th. Macquarie restated a “neutral” rating and issued a $18.00 price target on shares of XPeng in a research report on Friday, February 7th. Sanford C. Bernstein increased their price objective on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group cut XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a report on Thursday, November 21st. Finally, China Renaissance raised 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. Four equities 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.63.

XPeng Price Performance

NYSE:XPEV opened at $23.53 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $15.93 and its 200 day moving average price is $12.96. XPeng has a 52-week low of $6.55 and a 52-week high of $23.89. The firm has a market cap of $22.16 billion, a P/E ratio of -27.04 and a beta of 2.68.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in XPEV. Public Employees Retirement System of Ohio purchased a new position in shares of XPeng during the 4th quarter valued at $70,000. Vise Technologies Inc. acquired a new stake in XPeng during the fourth quarter valued at $142,000. Vident Advisory LLC grew its stake in XPeng by 7.6% in the fourth quarter. Vident Advisory LLC now owns 53,632 shares of the company’s stock valued at $634,000 after purchasing an additional 3,810 shares in the last quarter. Twinbeech Capital LP increased its position in XPeng by 22.4% in the 4th quarter. Twinbeech Capital LP now owns 407,097 shares of the company’s stock worth $4,812,000 after purchasing an additional 74,574 shares during the last quarter. Finally, Polar Capital Holdings Plc acquired a new stake in shares of XPeng during the 4th quarter valued at about $6,596,000. Institutional investors and hedge funds own 21.09% of the company’s stock.

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.