XPENG Inc. Sponsored ADR $XPEV Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in XPENG Inc. Sponsored ADR (NYSE:XPEV) during the third quarter, HoldingsChannel reports. The fund bought 51,585 shares of the company’s stock, valued at approximately $493,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its stake in XPENG by 393.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 93,100 shares of the company’s stock valued at $908,000 after acquiring an additional 74,230 shares during the period. Nykredit A S purchased a new position in shares of XPENG during the 2nd quarter valued at about $825,000. SteelPeak Wealth LLC acquired a new position in shares of XPENG in the 3rd quarter valued at about $213,000. Crossmark Global Holdings Inc. boosted its stake in shares of XPENG by 28.0% in the third quarter. Crossmark Global Holdings Inc. now owns 67,900 shares of the company’s stock worth $649,000 after buying an additional 14,842 shares during the last quarter. Finally, Altar Rock LLC acquired a new stake in XPENG during the second quarter worth about $196,000. Institutional investors and hedge funds own 21.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XPEV. Barclays dropped their price objective on shares of XPENG from $15.00 to $14.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 25th. JPMorgan Chase & Co. cut their price target on XPENG from $11.50 to $10.00 and set a “neutral” rating for the company in a research note on Monday, October 26th. UBS Group began coverage on XPENG in a research report on Wednesday, September 9th. They set a “neutral” rating and a $12.00 price target on the stock. The Goldman Sachs Group set a $16.00 price objective on XPENG in a research report on Friday, October 23rd. Finally, Weiss Ratings cut shares of XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, October 14th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.62.

XPENG Stock Down 0.6%

Shares of XPEV opened at $10.18 on Tuesday. The stock has a 50 day moving average price of $9.95 and a 200 day moving average price of $14.20. XPENG Inc. Sponsored ADR has a one year low of $8.94 and a one year high of $28.24. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.86 and a current ratio of 1.11. The stock has a market capitalization of $9.72 billion, a price-to-earnings ratio of -21.20 and a beta of 0.96.

XPENG Company Profile

XPENG Inc is a Chinese electric vehicle company that designs, develops, manufactures and sells smart electric vehicles. Founded in 2014 and headquartered in Guangzhou, the company focuses on combining vehicle engineering with software and technology features.

Its product lineup includes electric sedans, SUVs and multipurpose vehicles. XPENG also develops driver-assistance technologies, in-car software and related services, and operates charging infrastructure to support its vehicles.

The company primarily serves customers in China and has expanded into international markets.