Sanford C. Bernstein Issues Positive Forecast for XPeng (NYSE:XPEV) Stock Price

XPeng (NYSE:XPEV) had its target price raised by Sanford C. Bernstein from $9.00 to $14.00 in a research note released on Wednesday,Benzinga reports. They currently have a market perform rating on the stock.

XPEV has been the subject of several other research reports. Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Citigroup dropped their target price on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $11.50 in a research report on Thursday, September 5th. Finally, Bank of America dropped their price objective on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.20.

XPeng Stock Up 1.0 %

XPEV opened at $12.64 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50. The stock’s fifty day moving average is $11.68 and its two-hundred day moving average is $9.24. XPeng has a 52 week low of $6.55 and a 52 week high of $18.74.

XPeng (NYSE:XPEV) last released 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 return on equity of 16.63% and a negative net margin of 15.35%. As a group, analysts predict that XPeng will post -1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XPeng

A number of large investors have recently made changes to their positions in XPEV. Sei Investments Co. increased its position in XPeng by 83.0% during the 1st quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock valued at $994,000 after buying an additional 58,700 shares in the last quarter. Natixis purchased a new stake in shares of XPeng during the first quarter worth about $38,000. Renaissance Technologies LLC acquired a new position in shares of XPeng during the second quarter valued at about $1,006,000. Central Asset Investments & Management Holdings HK Ltd raised its position in shares of XPeng by 36.0% in the 3rd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock valued at $4,969,000 after purchasing an additional 108,000 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in XPeng by 100.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock worth $8,864,000 after purchasing an additional 550,000 shares in the last quarter. 23.05% of the stock is 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.