Venturi Wealth Management LLC Makes New $110,000 Investment in XPeng Inc. (NYSE:XPEV)

Venturi Wealth Management LLC acquired a new stake in XPeng Inc. (NYSE:XPEV) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,058 shares of the company’s stock, valued at approximately $110,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp increased its position in XPeng by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 222,337 shares of the company’s stock valued at $2,481,000 after acquiring an additional 10,148 shares during the period. US Bancorp DE increased its holdings in shares of XPeng by 6.3% in the third quarter. US Bancorp DE now owns 73,957 shares of the company’s stock valued at $901,000 after purchasing an additional 4,412 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of XPeng by 6.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 80,000 shares of the company’s stock worth $974,000 after purchasing an additional 5,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of XPeng by 4.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 113,959 shares of the company’s stock worth $1,450,000 after purchasing an additional 4,706 shares during the period. Finally, Ballentine Partners LLC grew its position in XPeng by 32.8% in the 3rd quarter. Ballentine Partners LLC now owns 17,542 shares of the company’s stock valued at $214,000 after buying an additional 4,335 shares during the last quarter. 23.05% of the stock is owned by hedge funds and other institutional investors.

XPeng Price Performance

Shares of XPeng stock opened at $13.38 on Thursday. The company has a 50-day moving average of $11.18 and a two-hundred day moving average of $9.07. XPeng Inc. has a 12-month low of $6.55 and a 12-month high of $18.74. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last issued its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The firm had revenue of $1.12 billion for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. Analysts expect that XPeng Inc. will post -1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

XPEV has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Citigroup dropped their target price on XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. Finally, Bank of America reduced their price target on XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $9.42.

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.