XPeng Inc. (NYSE:XPEV – Get Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $26.34, but opened at $24.94. XPeng shares last traded at $25.51, with a volume of 5,531,509 shares changing hands.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. The Goldman Sachs Group lowered XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a research note on Thursday, November 21st. UBS Group raised XPeng from a “sell” rating to a “neutral” rating and increased their target price for the company from $8.80 to $18.00 in a research note on Monday, February 24th. Sanford C. Bernstein increased their target price on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Citigroup raised XPeng from a “neutral” rating to a “buy” rating and increased their target price for the company from $13.70 to $29.00 in a research note on Monday. Finally, China Renaissance raised XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price for the company in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.63.
View Our Latest Report on XPEV
XPeng Trading Up 2.6 %
Institutional Investors Weigh In On XPeng
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC acquired a new stake in XPeng during the third quarter worth approximately $110,000. Central Asset Investments & Management Holdings HK Ltd grew its stake in XPeng by 36.0% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock worth $4,969,000 after purchasing an additional 108,000 shares during the period. Advisors Asset Management Inc. raised its stake in XPeng by 48.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company’s stock worth $604,000 after buying an additional 16,289 shares during the period. Citigroup Inc. raised its stake in XPeng by 14.2% during the 3rd quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock worth $3,573,000 after buying an additional 36,560 shares during the period. Finally, FMR LLC raised its stake in XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after buying an additional 295,536 shares during the period. Institutional investors and hedge funds own 21.09% of the company’s stock.
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.
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