XPeng (NYSE:XPEV) Cut to Neutral at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of XPeng (NYSE:XPEV) from a buy rating to a neutral rating in a research note published on Thursday, MarketBeat Ratings reports. The Goldman Sachs Group currently has $12.50 target price on the stock.

A number of other brokerages have also issued reports on XPEV. Macquarie upgraded XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Sanford C. Bernstein upped their target price on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $8.00 to $11.50 in a research report on Thursday, September 5th. Bank of America dropped their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Finally, Citigroup reduced their target price on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, XPeng currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.05.

XPeng Trading Down 3.1 %

Shares of XPeng stock opened at $11.91 on Thursday. The firm’s 50 day simple moving average is $11.81 and its two-hundred day simple moving average is $9.29. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of -13.69 and a beta of 2.80. XPeng has a 12-month low of $6.55 and a 12-month high of $18.74. The company has a current ratio of 1.37, a quick ratio of 1.31 and a debt-to-equity ratio of 0.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XPEV. Natixis purchased a new stake in shares of XPeng during the 1st quarter worth about $38,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in XPeng by 122.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock worth $39,000 after purchasing an additional 2,920 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in XPeng during the third quarter worth approximately $45,000. Blue Trust Inc. grew its holdings in XPeng by 2,615.9% in the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after purchasing an additional 9,391 shares during the period. Finally, 180 Wealth Advisors LLC acquired a new position in shares of XPeng during the 2nd quarter worth approximately $78,000. Hedge funds and other institutional investors own 23.05% of the company’s stock.

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.