XPeng (NYSE:XPEV) Upgraded by Citigroup to Buy Rating

Citigroup upgraded shares of XPeng (NYSE:XPEV) from a neutral rating to a buy rating in a research note published on Monday, Marketbeat Ratings reports. Citigroup currently has $29.00 price target on the stock, up from their previous price target of $13.70.

A number of other research firms also recently commented on XPEV. Macquarie reiterated a “neutral” rating and issued a $18.00 price objective on shares of XPeng in a report on Friday, February 7th. UBS Group upgraded XPeng from a “sell” rating to a “neutral” rating and upped their price target for the company from $8.80 to $18.00 in a research report on Monday, February 24th. The Goldman Sachs Group cut XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price for the company. in a report on Thursday, November 21st. China Renaissance raised XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price for the company in a research note on Friday, November 22nd. Finally, Sanford C. Bernstein boosted their price target on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.63.

XPeng Price Performance

Shares of NYSE XPEV opened at $24.70 on Monday. The firm has a 50-day simple moving average of $16.70 and a 200-day simple moving average of $13.29. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $23.27 billion, a price-to-earnings ratio of -28.39 and a beta of 2.68. XPeng has a 52 week low of $6.55 and a 52 week high of $27.16.

Hedge Funds Weigh In On XPeng

A number of hedge funds have recently modified their holdings of XPEV. EverSource Wealth Advisors LLC lifted its position in 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 buying an additional 898 shares during the last quarter. Avior Wealth Management LLC raised its stake in shares of XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after acquiring an additional 2,564 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of XPeng by 50.7% in the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after acquiring an additional 1,138 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of XPeng during the 4th quarter worth approximately $41,000. Finally, Natixis acquired a new stake in XPeng in the 4th quarter valued at approximately $43,000. 21.09% of the stock is currently owned by hedge funds and other 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.