XPeng (NYSE:XPEV) Upgraded by Nomura to “Buy” Rating

XPeng (NYSE:XPEV) was upgraded by equities researchers at Nomura from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm presently has a $30.00 price objective on the stock, up from their previous price objective of $14.00. Nomura’s price target points to a potential upside of 32.66% from the company’s previous close.

Several other research analysts also recently issued reports on the company. Citigroup raised XPeng from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.70 to $29.00 in a report on Monday, March 10th. Bank of America upped their price objective on XPeng from $18.60 to $27.00 and gave the stock a “buy” rating in a report on Wednesday. China Renaissance raised XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a report on Friday, November 22nd. Macquarie reissued a “neutral” rating and issued a $18.00 price target on shares of XPeng in a research note on Friday, February 7th. Finally, The Goldman Sachs Group downgraded 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, November 21st. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.77.

XPeng Stock Down 7.9 %

NYSE XPEV opened at $22.62 on Wednesday. The firm has a market cap of $21.30 billion, a PE ratio of -25.99 and a beta of 2.68. XPeng has a one year low of $6.55 and a one year high of $27.16. The stock’s 50 day simple moving average is $17.67 and its 200 day simple moving average is $13.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

XPeng (NYSE:XPEV) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.36) by $1.17. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. As a group, sell-side analysts forecast that XPeng will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of XPeng

A number of large investors have recently made changes to their positions in the company. Alibaba Group Holding Ltd increased its position in shares of XPeng by 21.2% in the 4th quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock valued at $448,678,000 after buying an additional 6,650,000 shares in the last quarter. TMT General Partner Ltd bought a new stake in shares of XPeng in the 4th quarter valued at $205,501,000. JPMorgan Chase & Co. increased its position in shares of XPeng by 1,138.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock valued at $54,354,000 after buying an additional 4,227,055 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of XPeng in the 3rd quarter valued at $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of XPeng by 947.5% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock valued at $20,800,000 after buying an additional 1,591,750 shares in the last quarter. Institutional investors own 21.09% of the company’s stock.

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.