Harvest Fund Management Co. Ltd Increases Stake in XPeng Inc. Sponsored ADR (NYSE:XPEV)

Harvest Fund Management Co. Ltd lifted its stake in shares of XPeng Inc. Sponsored ADR (NYSE:XPEV) by 7.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,500 shares of the company’s stock after buying an additional 6,500 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in XPeng were worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in shares of XPeng by 70.1% during the first quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company’s stock valued at $27,000 after buying an additional 532 shares during the period. Garde Capital Inc. purchased a new position in shares of XPeng during the first quarter valued at about $39,000. Natixis purchased a new stake in XPeng in the fourth quarter worth about $43,000. Banque Cantonale Vaudoise purchased a new stake in XPeng in the first quarter worth about $54,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in XPeng in the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 21.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on XPEV. Morgan Stanley set a $28.00 price objective on shares of XPeng and gave the stock an “overweight” rating in a report on Thursday, June 12th. Sanford C. Bernstein set a $19.00 price objective on shares of XPeng and gave the stock a “market perform” rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group upgraded shares of XPeng from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $16.40 to $24.00 in a report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, XPeng currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.73.

XPeng Trading Down 2.7%

Shares of NYSE XPEV opened at $18.43 on Wednesday. The firm’s 50 day moving average price is $18.94 and its 200-day moving average price is $18.91. The company has a market cap of $17.49 billion, a PE ratio of -24.58 and a beta of 2.51. XPeng Inc. Sponsored ADR has a 52-week low of $6.60 and a 52-week high of $27.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.07 and a current ratio of 1.21.

XPeng (NYSE:XPEV) last issued its quarterly earnings data on Wednesday, May 21st. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.51) by $1.41. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $15.80 billion. XPeng had a negative net margin of 10.20% and a negative return on equity of 15.89%. On average, equities research analysts expect that XPeng Inc. Sponsored ADR will post -0.96 EPS for the current fiscal 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.