XPeng Inc. (NYSE:XPEV – Get Free Report)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $7.81, but opened at $8.08. XPeng shares last traded at $8.06, with a volume of 5,047,087 shares traded.
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. reduced their price objective on shares of XPeng from $19.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, February 23rd. Three analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, XPeng presently has a consensus rating of “Hold” and an average target price of $18.64.
Get Our Latest Analysis on XPEV
XPeng Price Performance
Institutional Trading of XPeng
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of XPeng by 3.2% during the 1st quarter. BlackRock Inc. now owns 20,215,942 shares of the company’s stock valued at $557,756,000 after buying an additional 619,993 shares in the last quarter. Vanguard Group Inc. raised its position in shares of XPeng by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 19,696,586 shares of the company’s stock valued at $235,374,000 after purchasing an additional 356,174 shares during the last quarter. Primecap Management Co. CA grew its stake in XPeng by 5.3% in the 4th quarter. Primecap Management Co. CA now owns 12,497,823 shares of the company’s stock valued at $182,343,000 after acquiring an additional 624,926 shares during the period. State Street Corp increased its stake in XPeng by 3.8% during the second quarter. State Street Corp now owns 7,901,438 shares of the company’s stock worth $250,792,000 after purchasing an additional 292,396 shares during the period. Finally, Robeco Schweiz AG raised its stake in shares of XPeng by 14.9% during the first quarter. Robeco Schweiz AG now owns 5,407,600 shares of the company’s stock worth $149,196,000 after purchasing an additional 701,600 shares during the last quarter. 23.05% of the stock is owned by institutional investors.
XPeng Company Profile
XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EV) 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, maintenance, super charging, technical support, auto financing, insurance technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.
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