XPeng Inc. (NYSE:XPEV) Given Consensus Rating of “Buy” by Brokerages

XPeng Inc. (NYSE:XPEV) has been assigned an average rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $9.42.

A number of brokerages have commented on XPEV. Macquarie upgraded XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $8.00 to $11.50 in a research note on Thursday, September 5th. Citigroup decreased their target price on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. Finally, Bank of America cut their price target on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st.

Institutional Investors Weigh In On XPeng

Hedge funds have recently made changes to their positions in the business. Sei Investments Co. raised its holdings in XPeng by 83.0% during the first quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock worth $994,000 after purchasing an additional 58,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in XPeng by 35.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company’s stock worth $7,516,000 after purchasing an additional 257,300 shares in the last quarter. Van ECK Associates Corp raised its holdings in XPeng by 17.6% during the first quarter. Van ECK Associates Corp now owns 232,428 shares of the company’s stock worth $1,785,000 after purchasing an additional 34,788 shares in the last quarter. Natixis bought a new stake in XPeng during the first quarter worth approximately $38,000. Finally, Renaissance Technologies LLC bought a new stake in XPeng during the second quarter worth approximately $1,006,000. Institutional investors own 23.05% of the company’s stock.

XPeng Stock Up 6.0 %

NYSE:XPEV opened at $12.80 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50. The stock has a 50-day simple moving average of $10.48 and a 200 day simple moving average of $8.79. XPeng has a one year low of $6.55 and a one year high of $18.74. The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of -10.50 and a beta of 2.80.

XPeng (NYSE:XPEV) last issued its earnings results on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. The company had revenue of $1.12 billion during the quarter. Sell-side analysts predict that XPeng will post -0.96 EPS for the current fiscal year.

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.