Harvest Fund Management Co. Ltd Takes $970,000 Position in XPeng Inc. (NYSE:XPEV)

Harvest Fund Management Co. Ltd bought a new stake in XPeng Inc. (NYSE:XPEV) during the fourth quarter, Holdings Channel reports. The institutional investor bought 82,000 shares of the company’s stock, valued at approximately $970,000.

A number of other large investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its holdings in shares of XPeng by 5.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,044 shares of the company’s stock valued at $154,000 after purchasing an additional 716 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of XPeng by 55.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock valued at $30,000 after purchasing an additional 898 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of XPeng by 7.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 14,386 shares of the company’s stock valued at $170,000 after purchasing an additional 1,027 shares during the period. Lindbrook Capital LLC increased its holdings in shares of XPeng by 50.7% in the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock valued at $40,000 after purchasing an additional 1,138 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of XPeng by 8.2% in the 4th quarter. Signaturefd LLC now owns 25,821 shares of the company’s stock valued at $305,000 after purchasing an additional 1,952 shares during the period. Institutional investors and hedge funds own 21.09% of the company’s stock.

XPeng Stock Down 7.3 %

Shares of XPeng stock opened at $22.07 on Friday. The stock has a market capitalization of $20.79 billion, a P/E ratio of -25.36 and a beta of 2.68. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average price of $18.10 and a two-hundred day moving average price of $13.92. XPeng Inc. has a 12-month low of $6.55 and a 12-month high of $27.16.

XPeng (NYSE:XPEV) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($1.36) by $1.17. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $16.11 billion. Equities analysts expect that XPeng Inc. will post -0.96 earnings per share for the current year.

Analyst Ratings Changes

XPEV has been the topic of a number of research reports. Citigroup upgraded XPeng from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $13.70 to $29.00 in a report on Monday, March 10th. UBS Group upgraded XPeng from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $8.80 to $18.00 in a report on Monday, February 24th. Macquarie restated a “neutral” rating and issued a $18.00 price objective on shares of XPeng in a report on Friday, February 7th. JPMorgan Chase & Co. dropped their price objective on XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Nomura Securities upgraded XPeng to a “strong-buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.84.

XPeng Company 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.