XPeng (NYSE:XPEV) Given New $14.00 Price Target at Sanford C. Bernstein

XPeng (NYSE:XPEV) had its price objective boosted by Sanford C. Bernstein from $9.00 to $14.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other equities analysts also recently issued reports on XPEV. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $8.00 to $11.50 in a research note on Thursday, September 5th. Bank of America dropped their target price on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Macquarie upgraded XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Finally, Citigroup cut their target price on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, XPeng presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.05.

XPeng Stock Down 3.1 %

NYSE:XPEV opened at $11.91 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.31. XPeng has a 1-year low of $6.55 and a 1-year high of $18.74. The company has a 50-day moving average of $11.81 and a 200 day moving average of $9.29. The firm has a market cap of $11.22 billion, a PE ratio of -13.69 and a beta of 2.80.

Institutional Trading of XPeng

Several large investors have recently bought and sold shares of the stock. Sei Investments Co. grew its holdings in shares of XPeng by 83.0% during the first quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock valued at $994,000 after buying an additional 58,700 shares during the last quarter. Natixis acquired a new position in shares of XPeng in the first quarter valued at about $38,000. Renaissance Technologies LLC purchased a new position in shares of XPeng in the second quarter worth about $1,006,000. Central Asset Investments & Management Holdings HK Ltd lifted its holdings in shares of XPeng by 36.0% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock worth $4,969,000 after purchasing an additional 108,000 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position 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 last quarter. Hedge funds and other institutional investors own 23.05% of the company’s stock.

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.