JPMorgan Chase & Co. Cuts XPeng (NYSE:XPEV) Price Target to $31.00

XPeng (NYSE:XPEV) had its price objective reduced by JPMorgan Chase & Co. from $35.00 to $31.00 in a report issued on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. Daiwa Capital Markets restated a “neutral” rating and issued a $24.00 price objective on shares of XPeng in a research note on Wednesday. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target for the company in a research report on Friday, November 22nd. Sanford C. Bernstein lifted their price objective on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Citigroup upgraded shares of XPeng from a “neutral” rating to a “buy” rating and boosted their target price for the company from $13.70 to $29.00 in a research note on Monday, March 10th. Finally, The Goldman Sachs Group lowered shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.84.

XPeng Trading Down 1.2 %

NYSE:XPEV opened at $21.81 on Wednesday. The company has a market cap of $20.54 billion, a PE ratio of -25.06 and a beta of 2.68. XPeng has a one year low of $6.55 and a one year high of $27.16. The firm has a 50-day moving average of $18.29 and a 200-day moving average of $14.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

XPeng (NYSE:XPEV) last announced its earnings results on Tuesday, March 18th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($1.36) by $1.17. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $16.11 billion. As a group, equities research analysts expect that XPeng will post -0.96 EPS for the current fiscal year.

Institutional Trading of XPeng

A number of hedge funds and other institutional investors have recently made changes to their positions in XPEV. EverSource Wealth Advisors LLC boosted its position in shares of XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock valued at $30,000 after acquiring an additional 898 shares during the period. Avior Wealth Management LLC lifted its stake in XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock worth $33,000 after purchasing an additional 2,564 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in XPeng by 50.7% in the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock valued at $40,000 after purchasing an additional 1,138 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of XPeng during the 4th quarter valued at $41,000. Finally, Natixis bought a new position in shares of XPeng in the fourth quarter worth $43,000. 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.