XPeng (NYSE:XPEV) Issues Quarterly Earnings Results, Beats Estimates By $0.41 EPS

XPeng (NYSE:XPEV) released its quarterly earnings results on Monday. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.41, Zacks reports. XPeng had a negative net margin of 7.14% and a negative return on equity of 13.76%.

XPeng Price Performance

XPeng stock opened at $25.03 on Monday. The business’s 50-day simple moving average is $22.59 and its 200 day simple moving average is $20.64. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock has a market cap of $23.75 billion, a price-to-earnings ratio of -39.72 and a beta of 2.54. XPeng has a 12-month low of $11.14 and a 12-month high of $28.24.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of XPEV. Ameriprise Financial Inc. grew its position in shares of XPeng by 29.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 127,533 shares of the company’s stock worth $2,280,000 after buying an additional 28,983 shares during the period. Royal Bank of Canada lifted its holdings in XPeng by 33.6% in the first quarter. Royal Bank of Canada now owns 23,657 shares of the company’s stock valued at $490,000 after buying an additional 5,945 shares during the period. Finally, Parallel Advisors LLC boosted its stake in XPeng by 11.0% in the third quarter. Parallel Advisors LLC now owns 9,709 shares of the company’s stock valued at $227,000 after acquiring an additional 964 shares during the last quarter. Institutional investors own 21.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup boosted their target price on XPeng from $29.00 to $29.40 and gave the stock a “buy” rating in a report on Wednesday, August 20th. BNP Paribas Exane assumed coverage on XPeng in a research note on Monday, August 18th. They issued a “neutral” rating and a $19.00 price objective on the stock. Morgan Stanley restated an “overweight” rating and set a $34.00 target price on shares of XPeng in a report on Tuesday, November 11th. CLSA upgraded XPeng to a “strong-buy” rating in a research note on Monday, September 22nd. Finally, BNP Paribas started coverage on shares of XPeng in a research report on Monday, August 18th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.32.

XPeng Company 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.