Tidal Investments LLC Lowers Stock Position in XPeng Inc. (NYSE:XPEV)

Tidal Investments LLC cut its stake in shares of XPeng Inc. (NYSE:XPEV) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,544 shares of the company’s stock after selling 2,661 shares during the quarter. Tidal Investments LLC’s holdings in XPeng were worth $1,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. lifted its stake in XPeng by 2,615.9% during the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock worth $75,000 after purchasing an additional 9,391 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in XPeng by 119.6% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 111,364 shares of the company’s stock worth $816,000 after buying an additional 60,643 shares in the last quarter. Signaturefd LLC grew its position in XPeng by 19.4% during the second quarter. Signaturefd LLC now owns 24,647 shares of the company’s stock valued at $181,000 after acquiring an additional 4,002 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of XPeng during the second quarter worth approximately $1,006,000. Finally, Primecap Management Co. CA lifted its holdings in shares of XPeng by 5.6% in the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock worth $120,369,000 after acquiring an additional 872,160 shares during the last quarter. Hedge funds and other institutional investors own 21.09% of the company’s stock.

XPeng Price Performance

Shares of XPEV stock opened at $12.48 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The firm has a market cap of $11.76 billion, a P/E ratio of -14.34 and a beta of 2.76. The business’s 50 day moving average price is $12.27 and its 200-day moving average price is $9.82. XPeng Inc. has a fifty-two week low of $6.55 and a fifty-two week high of $15.68.

Wall Street Analyst Weigh In

XPEV has been the topic of several recent research reports. Bank of America reduced their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $11.50 in a research note on Thursday, September 5th. UBS Group reissued a “sell” rating and issued a $8.80 target price (up previously from $8.20) on shares of XPeng in a research note on Thursday, December 5th. The Goldman Sachs Group lowered XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target on the stock. in a research report on Thursday, November 21st. Finally, China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective for the company in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, XPeng currently has a consensus rating of “Moderate Buy” and an average target price of $11.69.

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.