XPENG (NYSE:XPEV) Price Target Cut to $16.00 by Analysts at Barclays

XPENG (NYSE:XPEV) had its target price decreased by Barclays from $17.00 to $16.00 in a report released on Tuesday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

XPEV has been the subject of several other reports. Macquarie Infrastructure set a $26.00 price objective on XPENG and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Citigroup reaffirmed a “buy” rating on shares of XPENG in a research note on Friday, February 6th. Morgan Stanley reiterated a “reduce” rating on shares of XPENG in a report on Monday, December 29th. Weiss Ratings restated a “sell (d-)” rating on shares of XPENG in a report on Wednesday, January 21st. Finally, Loop Capital set a $25.00 price objective on shares of XPENG in a research report on Tuesday, January 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.74.

XPENG Price Performance

Shares of NYSE:XPEV opened at $18.88 on Tuesday. The company’s fifty day moving average is $18.40 and its two-hundred day moving average is $20.42. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 0.24. XPENG has a 12-month low of $15.38 and a 12-month high of $28.24. The company has a market cap of $17.92 billion, a P/E ratio of -111.03 and a beta of 1.21.

XPENG (NYSE:XPEV) last issued its earnings results on Friday, March 20th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.07. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.10 billion. XPENG had a negative return on equity of 3.69% and a negative net margin of 1.46%. Equities analysts expect that XPENG will post -0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in shares of XPENG by 161.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,562 shares of the company’s stock worth $52,000 after purchasing an additional 1,582 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of XPENG by 16.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,694 shares of the company’s stock valued at $63,000 after buying an additional 389 shares in the last quarter. Parallel Advisors LLC increased its holdings in XPENG by 11.0% in the third quarter. Parallel Advisors LLC now owns 9,709 shares of the company’s stock worth $227,000 after buying an additional 964 shares during the last quarter. Kickstand Ventures LLC. acquired a new position in XPENG in the fourth quarter worth approximately $202,000. Finally, Venturi Wealth Management LLC bought a new position in XPENG during the third quarter valued at approximately $249,000. 21.09% of the stock is owned by institutional investors and hedge funds.

XPENG Company Profile

XPENG Inc (NYSE: XPEV) is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.

Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.