Point72 Italy S.r.l. Acquires New Position in XPeng Inc. (NYSE:XPEV)

Point72 Italy S.r.l. purchased a new position in shares of XPeng Inc. (NYSE:XPEV) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 95,200 shares of the company’s stock, valued at approximately $1,160,000.

A number of other hedge funds have also made changes to their positions in the business. Polymer Capital Management HK LTD acquired a new stake in XPeng during the 3rd quarter valued at $487,000. Point72 Hong Kong Ltd bought a new stake in XPeng in the 3rd quarter valued at about $22,047,000. Flow Traders U.S. LLC bought a new stake in XPeng in the 3rd quarter valued at about $360,000. FMR LLC raised its position in shares of XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after buying an additional 295,536 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of XPeng by 14.2% in the third quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock worth $3,573,000 after acquiring an additional 36,560 shares in the last quarter. Hedge funds and other institutional investors own 23.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on XPEV shares. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a research report on Friday, November 22nd. Citigroup lowered their target price on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. The Goldman Sachs Group downgraded shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target on the stock. in a research report on Thursday, November 21st. Bank of America cut their target price 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 shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.05.

XPeng Stock Performance

Shares of NYSE XPEV opened at $12.69 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. XPeng Inc. has a 1-year low of $6.55 and a 1-year high of $16.98. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of -14.59 and a beta of 2.76. The stock’s 50-day moving average is $12.18 and its 200 day moving average is $9.49.

XPeng Profile

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.