Citigroup upgraded shares of XPeng (NYSE:XPEV – Free Report) from a sell rating to a neutral rating in a research report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has $8.30 price objective on the stock, up from their previous price objective of $7.70.
Other analysts have also recently issued research reports about the company. Macquarie started coverage on XPeng in a report on Monday, April 15th. They issued a neutral rating and a $7.00 price target on the stock. Daiwa America raised XPeng to a strong-buy rating in a report on Thursday, May 23rd. Finally, Daiwa Capital Markets raised XPeng from a neutral rating to a buy rating and set a $11.00 price target on the stock in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $16.28.
Check Out Our Latest Report on XPeng
XPeng Stock Performance
XPeng (NYSE:XPEV – Get Free Report) last issued its quarterly earnings data on Tuesday, May 21st. The company reported ($0.20) earnings per share (EPS) for the quarter. The company had revenue of $906.90 million for the quarter. XPeng had a negative return on equity of 28.16% and a negative net margin of 28.16%. Research analysts forecast that XPeng will post -0.96 EPS for the current fiscal year.
Hedge Funds Weigh In On XPeng
Several institutional investors and hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale grew its position in shares of XPeng by 100.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock worth $8,864,000 after buying an additional 550,000 shares during the last quarter. Tidal Investments LLC grew its position in shares of XPeng by 25.2% in the 1st quarter. Tidal Investments LLC now owns 93,420 shares of the company’s stock worth $717,000 after buying an additional 18,826 shares during the last quarter. Alpine Global Management LLC bought a new stake in shares of XPeng in the 1st quarter worth approximately $307,000. Natixis bought a new stake in shares of XPeng in the 1st quarter worth approximately $38,000. Finally, Seven Eight Capital LP grew its position in shares of XPeng by 2,254.4% in the 1st quarter. Seven Eight Capital LP now owns 284,155 shares of the company’s stock worth $2,182,000 after buying an additional 272,086 shares during the last quarter. 23.05% of the stock is currently owned by institutional investors.
About XPeng
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.
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