XPeng (NYSE:XPEV) Raised to “Strong-Buy” at Daiwa America

XPeng (NYSE:XPEV) was upgraded by equities researchers at Daiwa America to a “strong-buy” rating in a report issued on Thursday, Zacks.com reports.

XPEV has been the subject of several other reports. Macquarie began coverage on shares of XPeng in a research report on Monday, April 15th. They set a “neutral” rating and a $7.00 target price for the company. JPMorgan Chase & Co. cut 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. Finally, Daiwa Capital Markets upgraded XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, XPeng presently has a consensus rating of “Hold” and a consensus price target of $16.89.

XPeng Stock Performance

Shares of XPeng stock opened at $8.20 on Thursday. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of -5.54 and a beta of 2.84. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.36. The firm’s 50-day moving average is $8.07 and its 200 day moving average is $10.91. XPeng has a 1 year low of $6.55 and a 1 year high of $23.62.

XPeng (NYSE:XPEV) last released its quarterly earnings results on Tuesday, March 19th. The company reported ($0.21) earnings per share (EPS) for the quarter. The firm had revenue of $1.84 billion during the quarter. XPeng had a negative return on equity of 28.16% and a negative net margin of 28.16%. Sell-side analysts anticipate that XPeng will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On XPeng

Several large investors have recently made changes to their positions in the business. Raymond James & Associates purchased a new position in XPeng during the third quarter valued at $242,000. Signaturefd LLC grew its position in shares of XPeng by 22.9% during the third quarter. Signaturefd LLC now owns 23,520 shares of the company’s stock valued at $432,000 after purchasing an additional 4,389 shares in the last quarter. Segantii Capital Management Ltd bought a new stake in shares of XPeng in the third quarter worth about $8,038,000. Barclays PLC lifted its position in shares of XPeng by 22.9% in the third quarter. Barclays PLC now owns 72,879 shares of the company’s stock worth $1,338,000 after buying an additional 13,576 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in XPeng by 18.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 26,181 shares of the company’s stock valued at $481,000 after buying an additional 4,031 shares during the last quarter. 23.05% of the stock is currently owned by hedge funds and other institutional investors.

XPeng Company Profile

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.