Citigroup Has Lowered Expectations for XPeng (NYSE:XPEV) Stock Price

XPeng (NYSE:XPEV) had its price objective decreased by equities research analysts at Citigroup from $14.60 to $13.70 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 11.70% from the stock’s previous close.

Several other analysts have also weighed in on the company. Bank of America reduced their price objective on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Macquarie upgraded XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and increased their target price for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, XPeng currently has an average rating of “Moderate Buy” and an average price target of $11.39.

XPeng Price Performance

XPEV opened at $12.27 on Wednesday. XPeng has a 52-week low of $6.55 and a 52-week 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 business’s fifty day moving average is $11.75 and its 200-day moving average is $9.26.

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 net margin of 15.35% and a negative return on equity of 16.63%. Sell-side analysts forecast that XPeng will post -0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XPeng

Hedge funds have recently made changes to their positions in the stock. Sei Investments Co. raised its position in shares of XPeng by 83.0% during the first quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock worth $994,000 after acquiring an additional 58,700 shares during the last quarter. Natixis bought a new position in shares of XPeng during the first quarter worth about $38,000. Renaissance Technologies LLC bought a new position in shares of XPeng during the second quarter worth about $1,006,000. Central Asset Investments & Management Holdings HK Ltd raised its position in shares of XPeng by 36.0% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock worth $4,969,000 after acquiring an additional 108,000 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of XPeng by 100.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock worth $8,864,000 after acquiring an additional 550,000 shares during the last quarter. 23.05% of the stock is currently owned by institutional investors.

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.