XPeng (NYSE:XPEV) Shares Down 4% – Here’s Why

XPeng Inc. (NYSE:XPEV)’s stock price traded down 4% on Thursday . The company traded as low as $10.68 and last traded at $10.71. 2,874,211 shares were traded during trading, a decline of 79% from the average session volume of 13,420,081 shares. The stock had previously closed at $11.16.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $8.00 to $11.50 in a research report on Thursday, September 5th. Citigroup cut their price target on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Finally, Bank of America decreased their price objective on XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, XPeng currently has an average rating of “Buy” and an average price target of $9.42.

XPeng Price Performance

The stock has a 50 day moving average of $9.78 and a 200-day moving average of $8.56. The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $9.93 billion, a P/E ratio of -8.61 and a beta of 2.79.

XPeng (NYSE:XPEV) last announced its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. The company had revenue of $1.12 billion for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. On average, equities research analysts anticipate that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Sei Investments Co. grew its position in shares of XPeng by 83.0% during the 1st quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock worth $994,000 after buying an additional 58,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in XPeng by 35.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company’s stock valued at $7,516,000 after purchasing an additional 257,300 shares during the period. Van ECK Associates Corp raised its holdings in shares of XPeng by 17.6% in the 1st quarter. Van ECK Associates Corp now owns 232,428 shares of the company’s stock valued at $1,785,000 after purchasing an additional 34,788 shares in the last quarter. Natixis purchased a new stake in shares of XPeng in the 1st quarter worth approximately $38,000. Finally, Renaissance Technologies LLC bought a new position in shares of XPeng during the second quarter valued at approximately $1,006,000. 23.05% of the stock is currently owned by hedge funds and other institutional investors.

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.