XPeng (NYSE:XPEV) Upgraded to Buy at Daiwa Capital Markets

XPeng (NYSE:XPEV) was upgraded by research analysts at Daiwa Capital Markets from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage currently has a $11.00 price target on the stock. Daiwa Capital Markets’ target price suggests a potential upside of 35.64% from the stock’s previous close.

Several other brokerages also recently commented on XPEV. Macquarie assumed coverage on shares of XPeng in a research note on Monday, April 15th. They issued a “neutral” rating and a $7.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on shares of XPeng from $19.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, February 23rd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.89.

XPeng Trading Down 7.3 %

Shares of XPEV traded down $0.64 on Thursday, reaching $8.11. 11,806,717 shares of the company’s stock were exchanged, compared to its average volume of 14,380,826. XPeng has a 12 month low of $6.55 and a 12 month high of $23.62. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $7.64 billion, a P/E ratio of -5.45 and a beta of 2.84. The business has a 50 day moving average price of $8.12 and a two-hundred day moving average price of $10.99.

XPeng (NYSE:XPEV) last issued its earnings results on Tuesday, March 19th. The company reported ($0.21) EPS for the quarter. XPeng had a negative net margin of 28.16% and a negative return on equity of 28.68%. The firm had revenue of $1.84 billion during the quarter. Research analysts anticipate that XPeng will post -1.25 earnings per share for the current year.

Hedge Funds Weigh In On XPeng

A number of hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its position in XPeng by 7.1% during the third quarter. PNC Financial Services Group Inc. now owns 11,066 shares of the company’s stock worth $203,000 after acquiring an additional 732 shares during the period. Compagnie Lombard Odier SCmA increased its holdings in XPeng by 322.2% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,900 shares of the company’s stock valued at $28,000 after buying an additional 1,450 shares during the period. Van ECK Associates Corp increased its holdings in XPeng by 0.8% in the 4th quarter. Van ECK Associates Corp now owns 197,640 shares of the company’s stock valued at $2,884,000 after buying an additional 1,523 shares during the period. Ballentine Partners LLC increased its holdings in XPeng by 14.6% in the 4th quarter. Ballentine Partners LLC now owns 13,557 shares of the company’s stock valued at $198,000 after buying an additional 1,729 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in XPeng by 25.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,550 shares of the company’s stock valued at $154,000 after buying an additional 2,151 shares during the period. 23.05% of the stock is owned by institutional investors.

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.