XPeng (NYSE:XPEV) Sees Strong Trading Volume

XPeng Inc. (NYSE:XPEVGet Rating) saw strong trading volume on Friday . 9,618,744 shares were traded during mid-day trading, a decline of 41% from the previous session’s volume of 16,329,866 shares.The stock last traded at $9.20 and had previously closed at $8.33.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. HSBC lowered shares of XPeng from a “buy” rating to a “hold” rating in a research report on Friday, February 24th. Citigroup lowered their price objective on shares of XPeng from $8.92 to $7.21 in a research report on Friday. Daiwa Capital Markets lowered shares of XPeng from a “buy” rating to a “sell” rating and lowered their price objective for the company from $13.00 to $8.00 in a research report on Wednesday, December 14th. Macquarie lowered shares of XPeng from a “neutral” rating to an “underperform” rating in a research report on Monday, February 13th. Finally, JPMorgan Chase & Co. downgraded XPeng from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $11.00 to $9.00 in a report on Wednesday, January 11th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.82.

XPeng Stock Up 6.1 %

The firm has a market cap of $7.56 billion, a price-to-earnings ratio of -6.23 and a beta of 2.82. The company has a current ratio of 1.89, a quick ratio of 1.70 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average price of $9.46 and a 200-day moving average price of $10.22.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in XPEV. E Fund Management Hong Kong Co. Ltd. raised its stake in XPeng by 137.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 228,925 shares of the company’s stock valued at $6,089,000 after purchasing an additional 132,487 shares during the last quarter. American Century Companies Inc. raised its stake in XPeng by 8.3% in the 1st quarter. American Century Companies Inc. now owns 29,681 shares of the company’s stock valued at $819,000 after purchasing an additional 2,266 shares during the last quarter. US Bancorp DE raised its stake in XPeng by 13.9% in the 1st quarter. US Bancorp DE now owns 6,271 shares of the company’s stock valued at $173,000 after purchasing an additional 767 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in XPeng by 37.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,385 shares of the company’s stock valued at $507,000 after buying an additional 5,021 shares during the period. Finally, BlackRock Inc. grew its holdings in XPeng by 3.2% in the 1st quarter. BlackRock Inc. now owns 20,215,942 shares of the company’s stock valued at $557,756,000 after buying an additional 619,993 shares during the period. Institutional investors and hedge funds own 24.87% of the company’s stock.

XPeng Company Profile

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XPeng Inc designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. It offers SUVs under the G3 and G3i names; four-door sports sedans under the P7 name; and family sedans under the P5 name. The company also provides sales contracts, maintenance, super charging, vehicle leasing, insurance agency, ride-hailing, technical support, automotive loan referral and auto financing, music subscription, and other services.

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