XPENG (NYSE:XPEV) Given New $10.00 Price Target at JPMorgan Chase & Co.

XPENG (NYSE:XPEV) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $11.50 to $10.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 9.11% from the company’s current price.

Several other research analysts also recently weighed in on XPEV. Weiss Ratings downgraded shares of XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, October 14th. The Goldman Sachs Group set a $16.00 price target on XPENG in a research report on Friday. Barclays reduced their price objective on XPENG from $15.00 to $14.00 and set an “underweight” rating for the company in a research note on Tuesday, August 25th. Finally, UBS Group assumed coverage on XPENG in a report on Wednesday, September 9th. They issued a “neutral” rating and a $12.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.24.

XPENG Price Performance

XPEV traded down $0.04 during midday trading on Monday, hitting $9.16. 2,059,606 shares of the company traded hands, compared to its average volume of 6,938,344. The business has a 50 day simple moving average of $10.41 and a two-hundred day simple moving average of $13.17. XPENG has a 52-week low of $9.01 and a 52-week high of $28.24. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of -19.09 and a beta of 1.07. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50.

Institutional Trading of XPENG

A number of hedge funds have recently bought and sold shares of XPEV. Crossmark Global Holdings Inc. lifted its stake in XPENG by 28.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 67,900 shares of the company’s stock worth $649,000 after purchasing an additional 14,842 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of XPENG by 393.4% in the third quarter. Quadrant Capital Group LLC now owns 93,100 shares of the company’s stock valued at $908,000 after purchasing an additional 74,230 shares in the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of XPENG in the third quarter valued at approximately $213,000. TD Waterhouse Canada Inc. boosted its stake in XPENG by 133.6% during the third quarter. TD Waterhouse Canada Inc. now owns 15,605 shares of the company’s stock worth $149,000 after buying an additional 8,925 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in XPENG by 57.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,850 shares of the company’s stock valued at $46,000 after buying an additional 1,771 shares in the last quarter. Institutional investors and hedge funds own 21.09% of the company’s stock.

About XPENG

XPeng Inc is a China-based technology company focused on the design, development, manufacture and sale of smart electric vehicles. The company combines electric powertrain technology with software, connectivity and advanced driver-assistance features to develop vehicles intended for digitally connected and increasingly automated transportation.

XPeng’s product portfolio has included electric sedans, sport utility vehicles and multipurpose vehicles, such as the P7 sedan, P5 sedan, G6 and G9 SUVs, and X9 multipurpose vehicle.