XPENG (NYSE:XPEV) Stock Gets Price Target Cut from JPMorgan Chase & Co.

XPENG (NYSE:XPEV) had its target price cut by JPMorgan Chase & Co. from $11.50 to $10.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts also recently weighed in on XPEV. The Goldman Sachs Group set a $16.00 price target on shares of XPENG in a research note on Friday, October 23rd. Barclays cut their price objective on shares of XPENG from $15.00 to $14.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 25th. Weiss Ratings downgraded XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, October 14th. Finally, UBS Group began coverage on XPENG in a report on Wednesday, September 9th. They issued a “neutral” rating and a $12.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.24.

XPENG Stock Up 0.2%

Shares of NYSE:XPEV opened at $9.31 on Monday. XPENG has a 1 year low of $8.99 and a 1 year high of $28.24. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.11 and a quick ratio of 0.86. The business’s 50-day moving average is $10.27 and its 200-day moving average is $14.64. The company has a market capitalization of $8.89 billion, a price-to-earnings ratio of -19.40 and a beta of 1.07.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC boosted its holdings in XPENG by 393.4% in the 3rd quarter. Quadrant Capital Group LLC now owns 93,100 shares of the company’s stock worth $908,000 after buying an additional 74,230 shares during the period. Nykredit A S purchased a new position in XPENG in the 2nd quarter valued at approximately $825,000. SteelPeak Wealth LLC bought a new stake in XPENG during the 3rd quarter valued at $213,000. Crossmark Global Holdings Inc. raised its holdings in XPENG by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 67,900 shares of the company’s stock valued at $649,000 after acquiring an additional 14,842 shares during the period. Finally, Altar Rock LLC purchased a new stake in shares of XPENG during the second quarter worth $196,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.

About XPENG

XPeng Inc is a China-based technology company focused on the design, development, manufacture and sale of smart electric vehicles. The company combines electric powertrain technology with software, connectivity and advanced driver-assistance features to develop vehicles intended for digitally connected and increasingly automated transportation.

XPeng’s product portfolio has included electric sedans, sport utility vehicles and multipurpose vehicles, such as the P7 sedan, P5 sedan, G6 and G9 SUVs, and X9 multipurpose vehicle.