XPENG (NYSE:XPEV) Stock Keeps Neutral Rating at JPMorgan Chase & Co.

XPENG (NYSE:XPEV)‘s stock had its “neutral” rating restated by investment analysts at JPMorgan Chase & Co. in a research report issued on Tuesday, MarketBeat Ratings reports. They presently have a $11.50 price objective on the stock, down from their previous price objective of $24.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 21.63% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Weiss Ratings lowered shares of XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, September 10th. UBS Group started coverage on shares of XPENG in a research report on Wednesday, September 9th. They set a “neutral” rating and a $12.00 target price for the company. Finally, Barclays dropped their target price on shares of XPENG from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, XPENG presently has a consensus rating of “Hold” and an average price target of $22.09.

XPENG Price Performance

XPENG stock traded down $0.50 during mid-day trading on Tuesday, hitting $9.46. 8,020,533 shares of the company traded hands, compared to its average volume of 6,947,522. XPENG has a one year low of $9.44 and a one year high of $28.24. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of -19.70 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.86 and a current ratio of 1.11. The stock has a fifty day moving average price of $11.51 and a 200-day moving average price of $14.36.

Hedge Funds Weigh In On XPENG

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nykredit A S purchased a new position in XPENG in the second quarter valued at about $825,000. Altar Rock LLC purchased a new position in XPENG in the second quarter valued at about $196,000. QRG Capital Management Inc. purchased a new position in XPENG in the second quarter valued at about $187,000. Venturi Wealth Management LLC grew its stake in XPENG by 66.3% in the first quarter. Venturi Wealth Management LLC now owns 16,481 shares of the company’s stock valued at $282,000 after purchasing an additional 6,571 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in XPENG in the second quarter valued at about $81,000. Institutional investors own 21.09% of the company’s stock.

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.