BNP Paribas Exane Downgrades XPENG (NYSE:XPEV) to Underperform

XPENG (NYSE:XPEV) was downgraded by equities researchers at BNP Paribas Exane from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday, Marketbeat.com reports.

A number of other equities analysts also recently weighed in on XPEV. Citigroup reaffirmed a “buy” rating on shares of XPENG in a research report on Friday, February 6th. Barclays reduced their price target on XPENG from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Tuesday, March 24th. Macquarie Infrastructure set a $26.00 price target on XPENG and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of XPENG in a research report on Monday. Finally, Morgan Stanley reaffirmed a “reduce” rating on shares of XPENG in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, XPENG presently has a consensus rating of “Hold” and an average price target of $24.74.

XPENG Price Performance

NYSE XPEV opened at $17.19 on Wednesday. The business has a 50 day simple moving average of $17.92 and a 200 day simple moving average of $19.82. XPENG has a 52-week low of $15.38 and a 52-week high of $28.24. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 1.09. The stock has a market cap of $16.32 billion, a price-to-earnings ratio of -101.12 and a beta of 1.18.

XPENG (NYSE:XPEV) last posted its earnings results on Sunday, February 15th. The company reported $0.04 earnings per share (EPS) for the quarter. XPENG had a negative return on equity of 3.71% and a negative net margin of 1.46%.The business had revenue of $3.18 billion during the quarter. Analysts anticipate that XPENG will post -0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XPENG

A number of large investors have recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its holdings in shares of XPENG by 66.3% in the 1st quarter. Venturi Wealth Management LLC now owns 16,481 shares of the company’s stock valued at $282,000 after buying an additional 6,571 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of XPENG by 6.0% in the 4th quarter. Parallel Advisors LLC now owns 10,293 shares of the company’s stock valued at $209,000 after buying an additional 584 shares during the last quarter. BNP Paribas boosted its holdings in shares of XPENG by 10.8% in the 4th quarter. BNP Paribas now owns 16,350 shares of the company’s stock valued at $332,000 after buying an additional 1,600 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of XPENG by 45.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,906 shares of the company’s stock valued at $79,000 after buying an additional 1,212 shares during the last quarter. Finally, Abacus Wealth Partners LLC acquired a new stake in shares of XPENG in the 4th quarter valued at approximately $1,060,000. Institutional investors and hedge funds own 21.09% of the company’s stock.

About XPENG

XPENG Inc (NYSE: XPEV) is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.

Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.