Ballentine Partners LLC Boosts Stock Position in XPeng Inc. (NYSE:XPEV)

Ballentine Partners LLC raised its stake in XPeng Inc. (NYSE:XPEV) by 32.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 17,542 shares of the company’s stock after buying an additional 4,335 shares during the quarter. Ballentine Partners LLC’s holdings in XPeng were worth $214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Greenleaf Trust grew its stake in XPeng by 16.2% in the third quarter. Greenleaf Trust now owns 16,068 shares of the company’s stock valued at $196,000 after purchasing an additional 2,243 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in XPeng by 24.3% in the third quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company’s stock valued at $163,000 after purchasing an additional 2,609 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of XPeng during the third quarter worth about $45,000. Creative Planning grew its stake in shares of XPeng by 20.3% during the third quarter. Creative Planning now owns 39,725 shares of the company’s stock worth $484,000 after acquiring an additional 6,704 shares during the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in shares of XPeng during the third quarter worth about $129,000. Hedge funds and other institutional investors own 23.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on XPEV shares. Macquarie upgraded XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Citigroup dropped their price target on XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. Bank of America dropped their price target on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $9.42.

XPeng Trading Down 4.3 %

XPeng stock opened at $11.61 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. XPeng Inc. has a 52 week low of $6.55 and a 52 week high of $18.74. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of -9.52 and a beta of 2.79. The stock has a 50-day moving average price of $10.13 and a 200 day moving average price of $8.67.

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

XPeng 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.