XPeng (NYSE:XPEV) Upgraded at China Renaissance

China Renaissance upgraded shares of XPeng (NYSE:XPEV) from a hold rating to a buy rating in a research note issued to investors on Friday morning, MarketBeat.com reports. The firm currently has $16.70 target price on the stock.

Several other research analysts have also recently issued reports on XPEV. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Citigroup decreased their price target on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Bank of America lowered their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target on the stock. in a research report on Thursday. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.05.

XPeng Trading Down 3.1 %

Shares of XPEV opened at $11.91 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.31 and a debt-to-equity ratio of 0.22. The company has a market cap of $11.22 billion, a P/E ratio of -13.69 and a beta of 2.80. XPeng has a twelve month low of $6.55 and a twelve month high of $18.74. The company’s fifty day simple moving average is $11.81 and its 200-day simple moving average is $9.30.

Hedge Funds Weigh In On XPeng

A number of institutional investors have recently bought and sold shares of XPEV. Sei Investments Co. raised its holdings in shares of XPeng by 83.0% during the first quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock worth $994,000 after purchasing an additional 58,700 shares during the last quarter. Natixis acquired a new position in shares of XPeng in the 1st quarter valued at about $38,000. Renaissance Technologies LLC purchased a new stake in shares of XPeng in the second quarter worth about $1,006,000. Central Asset Investments & Management Holdings HK Ltd raised its position in XPeng by 36.0% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock valued at $4,969,000 after acquiring an additional 108,000 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in XPeng by 100.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after acquiring an additional 550,000 shares during the period. 23.05% of the stock is owned by hedge funds and other institutional investors.

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.