Advisors Asset Management Inc. Has $604,000 Position in XPeng Inc. (NYSE:XPEV)

Advisors Asset Management Inc. boosted its holdings in XPeng Inc. (NYSE:XPEV) by 48.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 49,624 shares of the company’s stock after acquiring an additional 16,289 shares during the quarter. Advisors Asset Management Inc.’s holdings in XPeng were worth $604,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of XPEV. Bank of Montreal Can lifted its holdings in XPeng by 212.1% in the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after buying an additional 2,724,549 shares during the period. Primecap Management Co. CA lifted its holdings in XPeng by 5.6% in the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after buying an additional 872,160 shares during the period. Point72 Europe London LLP acquired a new position in XPeng in the second quarter valued at approximately $5,923,000. DekaBank Deutsche Girozentrale lifted its holdings in XPeng by 100.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after buying an additional 550,000 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new position in XPeng in the second quarter valued at approximately $2,199,000. 23.05% of the stock is currently owned by institutional investors and hedge funds.

XPeng Stock Up 4.6 %

Shares of XPEV stock opened at $11.91 on Thursday. The firm has a fifty day moving average of $11.97 and a 200-day moving average of $9.37. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. XPeng Inc. has a 12-month low of $6.55 and a 12-month high of $18.00. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of -13.69 and a beta of 2.80.

Analysts Set New Price Targets

Several equities analysts recently weighed in on XPEV shares. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $8.00 to $11.50 in a report on Thursday, September 5th. Bank of America cut 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. Citigroup cut their target price on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group lowered shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a report on Thursday, November 21st. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, XPeng presently has a consensus rating of “Moderate Buy” and an average price target of $12.05.

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.