XPENG (NYSE:XPEV) Cut to “Neutral” at JPMorgan Chase & Co.

XPENG (NYSE:XPEV) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Briefing.com reports.

Several other equities analysts also recently issued reports on the stock. UBS Group started coverage on shares of XPENG in a report on Wednesday, September 9th. They set a “neutral” rating and a $12.00 price target for the company. Barclays reduced their price objective on XPENG from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, August 25th. Finally, Weiss Ratings cut XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.65.

XPENG Stock Performance

Shares of XPEV stock opened at $9.95 on Tuesday. The company has a market cap of $9.50 billion, a P/E ratio of -20.72 and a beta of 1.11. The business has a 50 day moving average of $11.51 and a two-hundred day moving average of $14.36. XPENG has a 52 week low of $9.94 and a 52 week high of $28.24. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.50.

Hedge Funds Weigh In On XPENG

Hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. bought a new stake in shares of XPENG in the 2nd quarter worth $187,000. Altar Rock LLC bought a new position in XPENG during the second quarter valued at about $196,000. Integrated Wealth Concepts LLC acquired a new position in XPENG during the second quarter worth about $81,000. Nykredit A S acquired a new position in XPENG during the second quarter worth about $825,000. Finally, TD Waterhouse Canada Inc. raised its position in XPENG by 91.4% in the second quarter. TD Waterhouse Canada Inc. now owns 6,680 shares of the company’s stock worth $91,000 after acquiring an additional 3,190 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors and hedge funds.

About XPENG

XPeng Inc (NYSE: XPEV) is a Chinese smart electric vehicle manufacturer that designs, develops, manufactures and markets battery-powered passenger vehicles. The company combines vehicle engineering with software, connectivity and advanced driver-assistance technologies to provide digitally integrated driving experiences.

XPeng’s product portfolio has included electric sedans, sport utility vehicles and multi-purpose vehicles, including the P7 sedan, G6 and G9 SUVs, and X9 MPV. Its technology offerings include the XNGP advanced driver-assistance system, in-vehicle operating systems and related smart-cockpit features.