XPeng Inc. (NYSE:XPEV) Short Interest Down 17.2% in August

XPeng Inc. (NYSE:XPEV) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 41,670,000 shares, a decline of 17.2% from the August 15th total of 50,320,000 shares. Based on an average daily trading volume, of 11,150,000 shares, the short-interest ratio is currently 3.7 days.

Hedge Funds Weigh In On XPeng

A number of large investors have recently bought and sold shares of the company. Susquehanna International Securities Ltd. acquired a new position in shares of XPeng during the second quarter worth about $129,000. Point72 Europe London LLP acquired a new stake in XPeng in the second quarter valued at about $5,923,000. Bank of Montreal Can boosted its stake in shares of XPeng by 212.1% in the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after buying an additional 2,724,549 shares in the last quarter. DRW Securities LLC boosted its position in shares of XPeng by 135.1% during the 2nd quarter. DRW Securities LLC now owns 82,524 shares of the company’s stock worth $604,000 after purchasing an additional 47,423 shares in the last quarter. Finally, Sei Investments Co. grew its position in XPeng by 15.7% during the second quarter. Sei Investments Co. now owns 149,710 shares of the company’s stock worth $1,097,000 after buying an additional 20,310 shares during the period. Hedge funds and other institutional investors own 23.05% of the company’s stock.

XPeng Stock Performance

NYSE XPEV opened at $8.92 on Tuesday. The firm has a market cap of $8.40 billion, a P/E ratio of -6.02 and a beta of 2.75. XPeng has a 52-week low of $6.55 and a 52-week high of $18.74. The business’s 50-day moving average price is $7.91 and its 200 day moving average price is $8.10. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last announced its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. The company had revenue of $1.12 billion during the quarter. On average, equities research analysts expect that XPeng will post -0.95 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Macquarie upgraded 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 report on Thursday, May 23rd. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and upped their target price for the company from $8.00 to $11.50 in a report on Thursday, September 5th. 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. Finally, Bank of America reduced their price target on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, XPeng presently has a consensus rating of “Buy” and a consensus target price of $12.08.

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.