Thu Sep 26 13:28:07 UTC 2024: ## HSBC Cuts XPeng Stake as Investors Show Mixed Sentiment

**New York, September 26, 2024** – HSBC Holdings PLC significantly reduced its stake in Chinese electric vehicle (EV) maker XPeng Inc. (NYSE: XPEV) during the second quarter, selling off 81.2% of its holdings. This move comes amidst a mixed bag of investor sentiment towards the company, with some institutions increasing their positions while others remain cautious.

HSBC’s reduced ownership now stands at 359,724 shares, valued at $2,626,000 at the end of the reporting period. Meanwhile, other institutional investors like Harel Insurance Investments & Financial Services Ltd. boosted their positions in XPeng during the second quarter, while Scarborough Advisors LLC entered a new position in the fourth quarter.

However, the overall sentiment remains cautious, with analysts issuing a range of ratings. Citigroup cut its price target on XPeng, while JPMorgan Chase & Co. upgraded its rating, reflecting the complexities of the Chinese EV market.

XPeng’s stock opened at $10.44 on Thursday, with a market cap of $9.83 billion. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50, and a quick ratio of 1.31.

XPeng designs, develops, manufactures, and markets smart EVs in China, offering SUVs, sports sedans, and family sedans. The company also provides various services, including sales contracts, supercharging, maintenance, and financial services.

While HSBC’s move suggests some caution surrounding XPeng’s future, the mixed investor sentiment highlights the ongoing uncertainty and volatility within the Chinese EV sector.

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