MML Investors Services LLC Invests $287,000 in XPeng Inc. (NYSE:XPEV)

MML Investors Services LLC bought a new position in shares of XPeng Inc. (NYSE:XPEV) during the first quarter, Holdings Channel reports. The fund bought 7,869 shares of the company’s stock, valued at approximately $287,000.

Several other institutional investors also recently made changes to their positions in the company. Signaturefd LLC raised its position in shares of XPeng by 216.2% during the first quarter. Signaturefd LLC now owns 683 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares during the period. swisspartners Ltd. raised its position in shares of XPeng by 12.2% during the first quarter. swisspartners Ltd. now owns 5,500 shares of the company’s stock worth $201,000 after purchasing an additional 600 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of XPeng by 3.0% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 28,133 shares of the company’s stock worth $1,027,000 after purchasing an additional 829 shares during the period. Salem Investment Counselors Inc. acquired a new stake in shares of XPeng during the fourth quarter worth $39,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of XPeng by 6.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 19,100 shares of the company’s stock valued at $818,000 after buying an additional 1,100 shares in the last quarter. 21.39% of the stock is currently owned by institutional investors.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded XPeng from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Friday, July 16th. Nomura began coverage on XPeng in a research note on Tuesday, May 25th. They issued a “buy” rating and a $47.00 target price on the stock. Nomura Instinet began coverage on XPeng in a research note on Wednesday, May 26th. They set a “buy” rating and a $47.00 price target for the company. Citigroup upped their price target on XPeng from $50.30 to $56.30 and gave the stock a “buy” rating in a research note on Friday, July 2nd. Finally, upped their price target on XPeng from $50.30 to $56.30 and gave the stock a “buy” rating in a research note on Friday, July 2nd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $51.51.

Shares of XPeng stock opened at $43.87 on Thursday. The firm has a market cap of $35.24 billion and a P/E ratio of -27.08. XPeng Inc. has a 12 month low of $17.11 and a 12 month high of $74.49. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.48 and a quick ratio of 4.27. The business’s fifty day simple moving average is $37.68.

XPeng (NYSE:XPEV) last issued its quarterly earnings data on Thursday, May 13th. The company reported ($0.88) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.29) by $0.41. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.05 billion. The firm’s revenue was up 616.1% on a year-over-year basis. Equities research analysts predict that XPeng Inc. will post -0.72 EPS for the current fiscal year.

About XPeng

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. It offers SUVs under the G3 name; and four-door sports sedan under the P7 name. The company also provides sales contract, maintenance, super charging, vehicle leasing, and ride-hailing services.

See Also: What is a dead cat bounce?

Want to see what other hedge funds are holding XPEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for XPeng Inc. (NYSE:XPEV).

Institutional Ownership by Quarter for XPeng (NYSE:XPEV)

Receive News & Ratings for XPeng Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for XPeng and related companies with MarketBeat.com's FREE daily email newsletter.