XPeng Inc. (NYSE:XPEV) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. boosted its holdings in shares of XPeng Inc. (NYSE:XPEV) by 6.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,000 shares of the company’s stock after purchasing an additional 5,000 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in XPeng were worth $974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. lifted its position in XPeng by 83.0% during the first quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock valued at $994,000 after purchasing an additional 58,700 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of XPeng by 35.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company’s stock worth $7,516,000 after acquiring an additional 257,300 shares during the period. Van ECK Associates Corp raised its position in shares of XPeng by 17.6% in the first quarter. Van ECK Associates Corp now owns 232,428 shares of the company’s stock worth $1,785,000 after acquiring an additional 34,788 shares during the period. Natixis acquired a new position in shares of XPeng in the first quarter worth about $38,000. Finally, Renaissance Technologies LLC acquired a new position in shares of XPeng in the second quarter worth about $1,006,000. 23.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $8.00 to $11.50 in a research report on Thursday, September 5th. Citigroup decreased their price objective on shares of XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. Finally, Bank of America decreased their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, XPeng currently has an average rating of “Buy” and a consensus target price of $9.42.

XPeng Stock Down 4.3 %

XPEV stock opened at $11.61 on Wednesday. The stock has a market capitalization of $10.94 billion, a P/E ratio of -9.52 and a beta of 2.79. The firm has a 50-day simple moving average of $10.13 and a 200-day simple moving average of $8.67. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. XPeng Inc. has a 52 week low of $6.55 and a 52 week high of $18.74.

XPeng (NYSE:XPEV) last released its earnings results on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. The company had revenue of $1.12 billion for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. Equities analysts forecast that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

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.