Citigroup Lowers XPeng (NYSE:XPEV) Price Target to $13.70

XPeng (NYSE:XPEV) had its price target decreased by Citigroup from $14.60 to $13.70 in a report published on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and upped their price target for the company from $8.00 to $11.50 in a report on Thursday, September 5th. Bank of America decreased their price target on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Finally, Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, XPeng presently has a consensus rating of “Moderate Buy” and an average target price of $11.20.

XPeng Stock Performance

NYSE XPEV opened at $12.64 on Wednesday. The stock has a 50-day simple moving average of $11.68 and a 200 day simple moving average of $9.24. XPeng has a twelve month low of $6.55 and a twelve month high of $18.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31.

XPeng (NYSE:XPEV) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. The business had revenue of $1.12 billion during the quarter. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.63%. On average, research analysts forecast that XPeng will post -1.01 EPS for the current fiscal year.

Institutional Investors Weigh In On XPeng

A number of hedge funds have recently made changes to their positions in XPEV. Primecap Management Co. CA raised its position in shares of XPeng by 5.6% in the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after acquiring an additional 872,160 shares during the period. Bank of Montreal Can grew its holdings in shares of XPeng by 212.1% during the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock worth $31,910,000 after purchasing an additional 2,724,549 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in XPeng in the third quarter valued at approximately $22,047,000. DekaBank Deutsche Girozentrale boosted its stake in XPeng by 100.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock worth $8,864,000 after acquiring an additional 550,000 shares in the last quarter. Finally, Point72 Europe London LLP acquired a new stake in XPeng in the second quarter worth $5,923,000. Institutional investors and hedge funds 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.