XPeng (NYSE:XPEV – Get Free Report) had its price target lowered by equities analysts at Citigroup from $8.30 to $7.60 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 9.51% from the stock’s current price.

XPEV has been the subject of a number of other research reports. Bank of America lowered their price target on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the company in a research note on Wednesday. Daiwa Capital Markets raised shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price target on the company in a research note on Thursday, May 23. JPMorgan Chase & Co. lowered their price target on shares of XPeng from $9.00 to $8.00 and set a “neutral” rating on the company in a research note on Wednesday. Finally, Daiwa America raised shares of XPeng to a “strong buy” rating in a research note on Thursday, May 23. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, XPeng has an average rating of “Moderate Buy” and an average price target of $11.50.

View our latest research report on XPEV

XPeng Stock Performance

XPEV shares opened at $6.94 on Wednesday. The company has a market cap of $6.54 billion, a price/earnings ratio of -4.69, and a beta of 2.76. The company has a 50-day simple moving average of $7.72 and a 200-day simple moving average of $8.18. The company has a current ratio of 1.50, a quick ratio of 1.32, and a debt-to-equity ratio of 0.18. XPeng has a 12-month low of $6.55 and a 12-month high of $19.96.

XPeng (NYSE:XPEV – Get Free Report) last announced its quarterly earnings results on Tuesday, May 21. The company reported ($0.20) EPS for the quarter. The company had revenue of $906.90 million for the quarter. XPeng had a negative net margin of 28.16% and a negative return on equity of 28.16%. Analysts are predicting that XPeng will post -0.91 EPS for the current fiscal year.

Hedge funds weigh in on XPeng

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in XPeng during the fourth quarter worth approximately $41,993,000. RWC Asset Advisors US LLC increased its shares in XPeng by 170.3% during the fourth quarter. RWC Asset Advisors US LLC now owns 4,434,392 shares of the company’s stock worth $64,698,000 after purchasing an additional 2,793,550 shares during the last quarter. Bank of Montreal Can increased its shares in XPeng by 212.1% during the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock worth $31,910,000 after purchasing an additional 2,724,549 shares during the last quarter. Electron Capital Partners LLC purchased a new stake in XPeng during the fourth quarter worth approximately $26,047,000. Finally, Primecap Management Co. CA increased its stake in XPeng by 5.6% during the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock worth $120,369,000 after purchasing an additional 872,160 shares during the last quarter. 23.05% of the shares are held by hedge funds and other institutional investors.

XPeng Company Profile

(Get free report)

XPeng Inc designs, develops, manufactures and sells smart electric vehicles (EVs) in the People’s Republic of China. It offers SUVs under the names G3, G3i and G9; four-door sports sedans under the names P7 and P7i; and family sedans under the name P5. The company also provides sales contracts, supercharging, maintenance, technical support, auto financing, insurance, technology support, ride-hailing, auto loan referral and other services, as well as auto leasing and insurance agency services.

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