Central Asset Investments & Management Holdings HK Ltd Purchases Shares of 300,000 XPeng Inc. (NYSE:XPEV)

Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of XPeng Inc. (NYSE:XPEV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 300,000 shares of the company’s stock, valued at approximately $2,199,000. XPeng comprises 0.8% of Central Asset Investments & Management Holdings HK Ltd’s investment portfolio, making the stock its 16th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Jump Financial LLC bought a new position in XPeng during the 4th quarter worth $326,000. Norges Bank acquired a new stake in shares of XPeng during the 4th quarter valued at $41,993,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of XPeng during the 4th quarter valued at $527,000. Primecap Management Co. CA increased its holdings in XPeng by 5.3% in the 4th quarter. Primecap Management Co. CA now owns 12,497,823 shares of the company’s stock worth $182,343,000 after purchasing an additional 624,926 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in XPeng in the fourth quarter valued at about $360,000. Institutional investors and hedge funds own 23.05% of the company’s stock.

XPeng Trading Up 1.5 %

NYSE:XPEV opened at $9.06 on Wednesday. The firm has a market cap of $8.53 billion, a P/E ratio of -6.12 and a beta of 2.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50. XPeng Inc. has a 52 week low of $6.55 and a 52 week high of $18.74. The firm’s fifty day moving average is $7.94 and its 200-day moving average is $8.09.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on XPEV shares. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $11.50 in a report on Thursday, September 5th. Bank of America reduced their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Daiwa America raised shares of XPeng to a “strong-buy” rating in a research note on Thursday, May 23rd. Daiwa Capital Markets raised shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Thursday, May 23rd. Finally, Citigroup lowered their target price on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, XPeng has a consensus rating of “Buy” and an average price target of $12.08.

XPeng 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.