JPMorgan Chase & Co. Has Lowered Expectations for XPeng (NYSE:XPEV) Stock Price

XPeng (NYSE:XPEV) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $35.00 to $31.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 31.04% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Macquarie reaffirmed a “neutral” rating and set a $18.00 price objective on shares of XPeng in a research report on Friday, February 7th. Citigroup upgraded shares of XPeng from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $13.70 to $29.00 in a report on Monday, March 10th. Nomura upgraded shares of XPeng from a “neutral” rating to a “buy” rating and boosted their target price for the company from $14.00 to $30.00 in a research note on Wednesday. Daiwa Capital Markets reiterated a “neutral” rating and set a $24.00 target price on shares of XPeng in a research note on Wednesday. Finally, UBS Group raised shares of 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 research report on Monday, February 24th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.02.

XPeng Stock Performance

Shares of XPeng stock traded up $1.02 during trading hours on Wednesday, reaching $23.66. The company had a trading volume of 3,330,087 shares, compared to its average volume of 13,330,769. XPeng has a one year low of $6.55 and a one year high of $27.16. The business has a fifty day simple moving average of $17.67 and a 200 day simple moving average of $13.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The firm has a market cap of $22.28 billion, a PE ratio of -27.21 and a beta of 2.68.

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

Hedge Funds Weigh In On XPeng

A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in XPeng in the 4th quarter worth about $70,000. Vise Technologies Inc. bought a new position in XPeng in the 4th quarter worth about $142,000. Vident Advisory LLC grew its stake in XPeng by 7.6% in the 4th quarter. Vident Advisory LLC now owns 53,632 shares of the company’s stock worth $634,000 after acquiring an additional 3,810 shares in the last quarter. Twinbeech Capital LP boosted its stake in shares of XPeng by 22.4% during the fourth quarter. Twinbeech Capital LP now owns 407,097 shares of the company’s stock valued at $4,812,000 after purchasing an additional 74,574 shares in the last quarter. Finally, Polar Capital Holdings Plc bought a new position in shares of XPeng during the fourth quarter valued at approximately $6,596,000. 21.09% of the stock is currently owned by 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.