Cibc World Market Inc. bought a new position in XPeng Inc. (NYSE:XPEV – Get Rating) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,539 shares of the company’s stock, valued at approximately $398,000.
A number of other hedge funds have also modified their holdings of XPEV. Tiger Global Management LLC increased its holdings in XPeng by 120.3% during the 1st quarter. Tiger Global Management LLC now owns 13,724,477 shares of the company’s stock valued at $378,658,000 after purchasing an additional 7,495,477 shares in the last quarter. Primecap Management Co. CA increased its holdings in XPeng by 27.1% during the 1st quarter. Primecap Management Co. CA now owns 8,601,777 shares of the company’s stock valued at $237,323,000 after purchasing an additional 1,834,290 shares in the last quarter. Jennison Associates LLC acquired a new stake in XPeng during the 1st quarter valued at $40,366,000. FIFTHDELTA Ltd increased its holdings in XPeng by 42.0% during the 1st quarter. FIFTHDELTA Ltd now owns 3,897,925 shares of the company’s stock valued at $107,544,000 after purchasing an additional 1,152,301 shares in the last quarter. Finally, Bridgewater Associates LP increased its holdings in XPeng by 101.2% during the 1st quarter. Bridgewater Associates LP now owns 2,153,216 shares of the company’s stock valued at $59,407,000 after purchasing an additional 1,083,108 shares in the last quarter. 25.15% of the stock is owned by institutional investors and hedge funds.
XPeng Stock Down 4.0 %
Shares of XPEV opened at $7.03 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 1.78 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average price is $10.03 and its two-hundred day moving average price is $19.31. XPeng Inc. has a 52 week low of $6.18 and a 52 week high of $56.45.
Analysts Set New Price Targets
A number of research firms recently weighed in on XPEV. UBS Group raised XPeng from a “neutral” rating to a “buy” rating and dropped their price target for the company from $34.00 to $13.00 in a report on Thursday, November 17th. Macquarie cut XPeng from an “outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a report on Wednesday, August 3rd. Barclays decreased their price objective on XPeng from $22.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Friday, October 28th. Finally, Citigroup lowered XPeng from a “buy” rating to a “sell” rating in a research report on Friday, October 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, XPeng currently has an average rating of “Hold” and an average price target of $33.17.
XPeng Inc designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. It offers SUVs under the G3 and G3i names; four-door sports sedans under the P7 name; and family sedans under the P5 name. The company also provides sales contracts, maintenance, super charging, vehicle leasing, insurance agency, ride-hailing, technical support, automotive loan referral and auto financing, music subscription, and other services.
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