XPeng (NYSE:XPEV) Price Target Cut to $13.70 by Analysts at Citigroup

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

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

XPeng Price Performance

Shares of NYSE XPEV opened at $12.64 on Wednesday. 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. The firm has a 50-day moving average of $11.68 and a two-hundred day moving average of $9.24.

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

Institutional Trading of XPeng

A number of institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of XPeng in the 3rd quarter valued at $45,000. Natixis bought a new position in XPeng during the first quarter valued at about $38,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of XPeng by 122.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock worth $39,000 after buying an additional 2,920 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of XPeng during the 3rd quarter worth about $110,000. Finally, Blue Trust Inc. raised its stake in shares of XPeng by 2,615.9% in the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after acquiring an additional 9,391 shares in the last quarter. 23.05% of the stock is currently owned by institutional investors and hedge funds.

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.