XPeng (NYSE:XPEV) Cut to “Neutral” at The Goldman Sachs Group

The Goldman Sachs Group cut shares of XPeng (NYSE:XPEV) from a buy rating to a neutral rating in a report published on Thursday, MarketBeat.com reports. The brokerage currently has $12.50 price target on the stock.

XPEV has been the subject of a number of other research reports. Bank of America lowered their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Sanford C. Bernstein upped their price objective on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday. Citigroup lowered their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Macquarie upgraded XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, XPeng currently has a consensus rating of “Moderate Buy” and an average target price of $12.05.

XPeng Stock Performance

XPEV stock opened at $11.70 on Thursday. The business’s fifty day moving average is $11.75 and its 200-day moving average is $9.26. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The company has a market cap of $11.02 billion, a P/E ratio of -14.10 and a beta of 2.80. XPeng has a twelve month low of $6.55 and a twelve month high of $18.74.

XPeng (NYSE:XPEV) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. The company had revenue of $1.12 billion during the quarter. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.63%. Equities research analysts forecast that XPeng will post -0.97 EPS for the current year.

Hedge Funds Weigh In On XPeng

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new position in shares of XPeng in the 3rd quarter valued at about $45,000. Natixis bought a new position in shares of XPeng in the 1st quarter valued at about $38,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of XPeng by 122.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after acquiring an additional 2,920 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in XPeng in the 3rd quarter valued at about $110,000. Finally, Blue Trust Inc. lifted its stake in XPeng by 2,615.9% in the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after purchasing an additional 9,391 shares during the last quarter. Institutional investors own 23.05% 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.