XPeng (NYSE:XPEV) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of XPeng (NYSE:XPEV) from a neutral rating to an overweight rating in a research note issued to investors on Thursday morning, Marketbeat.com reports. The firm currently has $11.50 target price on the stock, up from their prior target price of $8.00.

A number of other equities research analysts also recently weighed in on the company. Bank of America dropped their price objective on XPeng from $11.00 to $10.00 and set a buy rating on the stock in a research report on Wednesday, August 21st. Citigroup decreased their price objective on XPeng from $8.30 to $7.60 and set a neutral rating for the company in a report on Wednesday, August 21st. Macquarie upgraded shares of XPeng from a neutral rating to an outperform rating in a report on Friday, August 30th. Daiwa America raised shares of XPeng to a strong-buy rating in a research report on Thursday, May 23rd. Finally, Daiwa Capital Markets raised shares of XPeng from a neutral rating to a buy rating and set a $11.00 target price on the stock in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, XPeng presently has a consensus rating of Buy and an average target price of $12.08.

XPeng Trading Down 3.3 %

XPEV opened at $8.54 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50. The stock’s 50 day moving average price is $7.80 and its 200-day moving average price is $8.11. XPeng has a one year low of $6.55 and a one year high of $19.04. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of -5.77 and a beta of 2.75.

Hedge Funds Weigh In On XPeng

A number of institutional investors have recently bought and sold shares of XPEV. Norges Bank purchased a new position in shares of XPeng during the 4th quarter valued at about $41,993,000. Bank of Montreal Can increased its holdings in shares of XPeng by 212.1% during the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after purchasing an additional 2,724,549 shares in the last quarter. Electron Capital Partners LLC purchased a new stake in shares of XPeng during the 4th quarter worth about $26,047,000. Primecap Management Co. CA boosted its position in XPeng by 5.6% during the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock worth $120,369,000 after purchasing an additional 872,160 shares in the last quarter. Finally, Point72 Europe London LLP purchased a new position in shares of XPeng during the 2nd quarter valued at approximately $5,923,000. 23.05% of the stock is owned by hedge funds and other institutional investors.

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.