XPENG (NYSE:XPEV – Free Report) had its target price reduced by JPMorgan Chase & Co. from $27.00 to $24.00 in a report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.
Several other research analysts have also recently commented on XPEV. Wall Street Zen cut XPENG from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Weiss Ratings lowered XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. Barclays dropped their price objective on XPENG from $15.00 to $14.00 and set an “underweight” rating on the stock in a report on Tuesday. Bank of America reaffirmed a “buy” rating on shares of XPENG in a research report on Thursday, May 28th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $25.20 target price on shares of XPENG in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $25.31.
Check Out Our Latest Analysis on XPEV
XPENG Stock Performance
XPENG (NYSE:XPEV – Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.16). XPENG had a negative net margin of 4.19% and a negative return on equity of 10.99%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. On average, research analysts anticipate that XPENG will post -0.41 earnings per share for the current fiscal year.
Institutional Trading of XPENG
Several hedge funds and other institutional investors have recently bought and sold shares of XPEV. Abacus Wealth Partners LLC bought a new position in XPENG during the 4th quarter worth approximately $1,060,000. DNB Asset Management AS acquired a new stake in shares of XPENG during the 4th quarter valued at approximately $2,325,000. Ethic Inc. lifted its stake in XPENG by 6.1% during the fourth quarter. Ethic Inc. now owns 78,380 shares of the company’s stock worth $1,590,000 after purchasing an additional 4,493 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in XPENG by 7.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 16,535 shares of the company’s stock worth $335,000 after purchasing an additional 1,186 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in XPENG by 161.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,562 shares of the company’s stock valued at $52,000 after purchasing an additional 1,582 shares during the last quarter. 21.09% of the stock is owned by institutional investors.
About XPENG
XPENG Inc (NYSE: XPEV) is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.
Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.
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