XPeng (NYSE:XPEV) Given New $31.00 Price Target at JPMorgan Chase & Co.

XPeng (NYSE:XPEV) had its price target trimmed by JPMorgan Chase & Co. from $35.00 to $31.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently commented on the stock. Sanford C. Bernstein lifted their price target on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Citigroup upgraded XPeng from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.70 to $29.00 in a research report on Monday, March 10th. Nomura raised shares of XPeng from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $30.00 in a research note on Wednesday. UBS Group raised XPeng from a “sell” rating to a “neutral” rating and raised their price objective for the company from $8.80 to $18.00 in a research report on Monday, February 24th. Finally, China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target on the stock in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.84.

XPeng Trading Down 1.2 %

Shares of XPeng stock opened at $21.81 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. XPeng has a 1 year low of $6.55 and a 1 year high of $27.16. The firm has a market cap of $20.54 billion, a PE ratio of -25.06 and a beta of 2.68. The company has a 50 day simple moving average of $18.29 and a two-hundred day simple moving average of $14.02.

XPeng (NYSE:XPEV) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($1.36) by $1.17. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $16.11 billion. Analysts expect that XPeng will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On XPeng

A number of hedge funds have recently added to or reduced their stakes in XPEV. Van ECK Associates Corp grew its holdings in shares of XPeng by 14.2% in the fourth quarter. Van ECK Associates Corp now owns 253,875 shares of the company’s stock worth $3,001,000 after acquiring an additional 31,538 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of XPeng during the 3rd quarter valued at about $6,233,000. FMR LLC increased its position in shares of XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock valued at $3,941,000 after purchasing an additional 295,536 shares during the last quarter. Savant Capital LLC bought a new position in shares of XPeng in the 4th quarter worth approximately $229,000. Finally, TMT General Partner Ltd purchased a new position in shares of XPeng in the fourth quarter worth approximately $205,501,000. 21.09% of the stock is currently owned by hedge funds and other institutional investors.

About XPeng

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.