Barclays Cuts XPENG (NYSE:XPEV) Price Target to $16.00

XPENG (NYSE:XPEV) had its price target trimmed by Barclays from $17.00 to $16.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Citigroup reissued a “buy” rating on shares of XPENG in a research report on Friday, February 6th. Macquarie Infrastructure set a $26.00 price objective on shares of XPENG and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of XPENG in a report on Wednesday, January 21st. Morgan Stanley reaffirmed a “reduce” rating on shares of XPENG in a report on Monday, December 29th. Finally, Loop Capital set a $25.00 price target on shares of XPENG in a research report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.74.

XPENG Price Performance

Shares of NYSE XPEV opened at $17.60 on Tuesday. The firm has a market cap of $16.70 billion, a P/E ratio of -103.49 and a beta of 1.21. The business’s 50 day moving average is $18.29 and its 200-day moving average is $20.39. The company has a current ratio of 1.09, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. XPENG has a 1-year low of $15.38 and a 1-year high of $28.24.

XPENG (NYSE:XPEV) last released its quarterly earnings results on Friday, March 20th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.07. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.10 billion. XPENG had a negative return on equity of 3.69% and a negative net margin of 1.46%. Equities research analysts predict that XPENG will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On XPENG

A number of large investors have recently bought and sold shares of XPEV. EverSource Wealth Advisors LLC increased its holdings in XPENG by 16.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,694 shares of the company’s stock valued at $63,000 after buying an additional 389 shares during the period. Parallel Advisors LLC lifted its holdings in shares of XPENG by 6.0% during the 4th quarter. Parallel Advisors LLC now owns 10,293 shares of the company’s stock worth $209,000 after acquiring an additional 584 shares during the period. Greenleaf Trust boosted its position in shares of XPENG by 4.7% during the 3rd quarter. Greenleaf Trust now owns 17,005 shares of the company’s stock worth $398,000 after acquiring an additional 770 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of XPENG by 7.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 16,535 shares of the company’s stock worth $335,000 after acquiring an additional 1,186 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in XPENG by 161.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,562 shares of the company’s stock valued at $52,000 after acquiring an additional 1,582 shares during the last quarter. 21.09% of the stock is currently owned by institutional investors and hedge funds.

About XPENG

XPENG Inc (NYSE: XPEV) is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.

Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.