XPeng Inc. (NYSE:XPEV) Sees Large Drop in Short Interest

XPeng Inc. (NYSE:XPEV) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 37,120,000 shares, a drop of 16.8% from the December 31st total of 44,600,000 shares. Based on an average daily volume of 12,060,000 shares, the days-to-cover ratio is currently 3.1 days.

XPeng Stock Up 3.1 %

XPeng stock traded up $0.48 during midday trading on Monday, reaching $15.70. The company’s stock had a trading volume of 12,540,101 shares, compared to its average volume of 10,237,578. XPeng has a 52-week low of $6.55 and a 52-week high of $16.24. The stock has a market capitalization of $14.78 billion, a P/E ratio of -18.04 and a beta of 2.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The stock’s 50-day simple moving average is $12.97 and its 200-day simple moving average is $11.03.

Analyst Ratings Changes

XPEV has been the topic of several research reports. UBS Group reissued a “sell” rating and issued a $8.80 price objective (up from $8.20) on shares of XPeng in a research report on Thursday, December 5th. The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target on the stock. in a report on Thursday, November 21st. Citigroup lowered their price target on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein boosted their price target on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Finally, China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target for the company in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $11.69.

Institutional Investors Weigh In On XPeng

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XPEV. Avior Wealth Management LLC raised its holdings in XPeng by 1,215.2% during the fourth quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock worth $33,000 after purchasing an additional 2,564 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in XPeng during the fourth quarter valued at about $41,000. Allspring Global Investments Holdings LLC acquired a new position in shares of XPeng during the third quarter worth about $45,000. Compagnie Lombard Odier SCmA lifted its stake in shares of XPeng by 1,703.3% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 8,115 shares of the company’s stock worth $96,000 after purchasing an additional 7,665 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of XPeng in the third quarter worth about $110,000. Hedge funds and other institutional investors own 21.09% of the company’s stock.

XPeng Company 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.