AI Squared Management Ltd Makes New $2.13 Million Investment in XPeng Inc. (NYSE:XPEV)

AI Squared Management Ltd purchased a new position in XPeng Inc. (NYSE:XPEV) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 179,904 shares of the company’s stock, valued at approximately $2,126,000. XPeng comprises approximately 2.2% of AI Squared Management Ltd’s investment portfolio, making the stock its 15th largest position.

A number of other institutional investors have also made changes to their positions in XPEV. Advisors Asset Management Inc. boosted its stake in XPeng by 48.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company’s stock worth $604,000 after acquiring an additional 16,289 shares during the last quarter. Citigroup Inc. raised its holdings in XPeng by 14.2% in the third quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock worth $3,573,000 after purchasing an additional 36,560 shares during the period. FMR LLC grew its holdings in shares of XPeng by 1,053.8% in the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock valued at $3,941,000 after buying an additional 295,536 shares during the period. Flow Traders U.S. LLC bought a new stake in shares of XPeng in the 3rd quarter valued at $360,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of XPeng in the 3rd quarter valued at $22,047,000. 21.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

XPEV has been the subject of several recent analyst reports. UBS Group upgraded XPeng from a “sell” rating to a “neutral” rating and increased their price target for the stock from $8.80 to $18.00 in a report on Monday, February 24th. Barclays increased their target price on XPeng from $7.00 to $20.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. Macquarie restated a “neutral” rating and set a $18.00 target price on shares of XPeng in a report on Friday, February 7th. Nomura Securities upgraded shares of XPeng to a “strong-buy” rating in a report on Tuesday, March 18th. Finally, Daiwa Capital Markets reissued a “neutral” rating and set a $24.00 price objective on shares of XPeng in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, XPeng presently has a consensus rating of “Hold” and an average target price of $21.84.

XPeng Stock Down 1.8 %

Shares of XPEV stock opened at $21.42 on Tuesday. The firm’s fifty day moving average price is $18.48 and its two-hundred day moving average price is $14.18. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. XPeng Inc. has a 1 year low of $6.55 and a 1 year high of $27.16. The firm has a market capitalization of $20.17 billion, a P/E ratio of -24.61 and a beta of 2.68.

XPeng (NYSE:XPEV) last released its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.36) by $1.17. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $16.11 billion. On average, equities analysts predict that XPeng Inc. will post -0.96 EPS for the current fiscal year.

XPeng Profile

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.