XPeng (NYSE:XPEV) Upgraded at Citigroup

Citigroup upgraded shares of XPeng (NYSE:XPEV) from a neutral rating to a buy rating in a report published on Monday, MarketBeat Ratings reports. The firm currently has $29.00 price target on the stock, up from their previous price target of $13.70.

A number of other research analysts also recently issued reports on the stock. Sanford C. Bernstein boosted their target price on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. UBS Group raised XPeng from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $8.80 to $18.00 in a report on Monday, February 24th. Macquarie reaffirmed a “neutral” rating and set a $18.00 target price on shares of XPeng in a report on Friday, February 7th. The Goldman Sachs Group cut XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a research report on Thursday, November 21st. Finally, China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.63.

XPeng Stock Performance

Shares of NYSE XPEV opened at $24.70 on Monday. The company has a 50 day simple moving average of $16.70 and a two-hundred day simple moving average of $13.29. The stock has a market cap of $23.27 billion, a price-to-earnings ratio of -28.39 and a beta of 2.68. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. XPeng has a 12 month low of $6.55 and a 12 month high of $27.16.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its holdings in XPeng by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 222,337 shares of the company’s stock worth $2,481,000 after acquiring an additional 10,148 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of XPeng during the third quarter worth about $110,000. Central Asset Investments & Management Holdings HK Ltd increased its stake in shares of 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 in the last quarter. Advisors Asset Management Inc. raised its position in shares of 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 purchasing an additional 16,289 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in XPeng by 14.2% in the 3rd quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock valued at $3,573,000 after buying an additional 36,560 shares in the last quarter. 21.09% of the stock is owned by institutional investors and hedge funds.

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.