XPeng (NYSE:XPEV) Raised to Buy at China Renaissance

China Renaissance upgraded shares of XPeng (NYSE:XPEV) from a hold rating to a buy rating in a research note released on Friday morning, MarketBeat reports. They currently have $16.70 target price on the stock.

A number of other analysts have also weighed in on XPEV. The Goldman Sachs Group lowered shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a research note on Thursday. Bank of America decreased their target price on XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Sanford C. Bernstein boosted their price objective on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $8.00 to $11.50 in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.05.

XPeng Trading Down 3.1 %

NYSE XPEV opened at $11.91 on Friday. XPeng has a 12 month low of $6.55 and a 12 month high of $18.74. The stock has a market capitalization of $11.22 billion, a P/E ratio of -13.69 and a beta of 2.80. The firm’s 50-day moving average is $11.81 and its two-hundred day moving average is $9.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.31.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in XPeng in the third quarter worth $915,000. Y Intercept Hong Kong Ltd purchased a new stake in XPeng during the third quarter worth about $6,233,000. Quantinno Capital Management LP increased its holdings in XPeng by 99.2% in the third quarter. Quantinno Capital Management LP now owns 27,153 shares of the company’s stock valued at $331,000 after buying an additional 13,520 shares in the last quarter. Point72 Italy S.r.l. acquired a new stake in shares of XPeng during the 3rd quarter valued at approximately $1,160,000. Finally, Polymer Capital Management HK LTD acquired a new stake in shares of XPeng in the 3rd quarter worth approximately $487,000. 23.05% of the stock is currently owned by institutional investors and hedge funds.

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.