Daiwa Capital Markets Reaffirms “Neutral” Rating for XPeng (NYSE:XPEV)

XPeng (NYSE:XPEV)‘s stock had its “neutral” rating reissued by stock analysts at Daiwa Capital Markets in a research report issued on Wednesday, MarketBeat reports. They currently have a $24.00 price objective on the stock. Daiwa Capital Markets’ target price would suggest a potential upside of 8.77% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Sanford C. Bernstein raised their price objective on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. UBS Group upgraded shares of XPeng from a “sell” rating to a “neutral” rating and increased their target price for the stock from $8.80 to $18.00 in a research report on Monday, February 24th. Nomura upgraded shares of XPeng from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $30.00 in a research report on Wednesday. Macquarie reiterated a “neutral” rating and set a $18.00 price target on shares of XPeng in a research report on Friday, February 7th. Finally, China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target for the company in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, XPeng has a consensus rating of “Moderate Buy” and a consensus price target of $21.84.

XPeng Stock Performance

NYSE:XPEV opened at $22.07 on Wednesday. XPeng has a 1 year low of $6.55 and a 1 year high of $27.16. The firm’s fifty day simple moving average is $18.10 and its 200 day simple moving average is $13.92. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $20.79 billion, a PE ratio of -25.36 and a beta of 2.68.

XPeng (NYSE:XPEV) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.36) by $1.17. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $16.11 billion. On average, sell-side analysts anticipate that XPeng will post -0.96 EPS for the current year.

Institutional Trading of XPeng

A number of institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. increased its holdings in XPeng by 48.9% during the third quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company’s stock worth $604,000 after buying an additional 16,289 shares during the last quarter. Citigroup Inc. increased its holdings in shares of XPeng by 14.2% in the third quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock valued at $3,573,000 after purchasing an additional 36,560 shares during the last quarter. FMR LLC increased its position in XPeng by 1,053.8% during the third quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after acquiring an additional 295,536 shares during the period. Flow Traders U.S. LLC bought a new position in XPeng during the third quarter worth about $360,000. Finally, Point72 Hong Kong Ltd acquired a new stake in XPeng during the third quarter worth about $22,047,000. Institutional investors own 21.09% of the company’s stock.

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.