5 Beaten-Down Asian Stocks to Buy Today

1. XPeng Inc. (NYSE:XPEV)

Number of Hedge Fund Holders: 26

YTD Share Price Decline as of June 9: 48.26%

XPeng Inc. (NYSE:XPEV) designs and manufactures smart electric vehicles in the People’s Republic of China. The company builds SUVs, four-door sports sedans, and family sedans. The stock has declined over 48% year-to-date as of June 9. The company posted its Q1 results on May 23, reporting a revenue of $1.12 billion, outperforming estimates by $15.25 million. 

On May 24, Barclays analyst Jiong Shao maintained an Overweight rating on XPeng Inc. (NYSE:XPEV) but lowered the price target on the stock to $30 from $39. The analyst told investors to “ignore” Q2 and said that his long-term thesis remains intact. The company’s production is steadily recovering and Q2 is “abnormal” due to the Shanghai lockdown and supply chain disruption, the analyst told investors. Shao observed that XPeng Inc. (NYSE:XPEV) is positioned as one of the primary beneficiaries of the electric vehicle consumption stimulus.

According to Insider Monkey’s data, XPeng Inc. (NYSE:XPEV) was part of 26 public hedge fund portfolios at the end of Q1 2022, compared to 29 funds in the last quarter. Philippe Laffont’s Coatue Management is one of the leading shareholders of the company, with 2.8 million shares worth $77.8 million.

You can also take a look at 10 Best Undervalued Dividend Stocks To Buy and 10 Best Recession Stocks To Buy. 

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