XPeng (NYSE:XPEV) Shares Gap Down – What’s Next?

Shares of XPeng Inc. (NYSE:XPEV) gapped down prior to trading on Friday . The stock had previously closed at $22.26, but opened at $20.59. XPeng shares last traded at $20.77, with a volume of 3,637,120 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup cut their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Sanford C. Bernstein raised their price target on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Macquarie reaffirmed a “neutral” rating and set a $18.00 price objective on shares of XPeng in a report on Friday, February 7th. UBS Group raised shares of XPeng from a “sell” rating to a “neutral” rating and raised their target price for the company from $8.80 to $18.00 in a report on Monday. Finally, China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target on the stock in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, XPeng presently has a consensus rating of “Moderate Buy” and an average target price of $13.93.

XPeng Stock Down 3.4 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The company’s fifty day moving average price is $14.89 and its 200-day moving average price is $12.27. The stock has a market cap of $20.26 billion, a P/E ratio of -24.72 and a beta of 2.77.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of XPEV. Van ECK Associates Corp boosted its holdings in XPeng by 14.2% during the 4th quarter. Van ECK Associates Corp now owns 253,875 shares of the company’s stock valued at $3,001,000 after acquiring an additional 31,538 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of XPeng during the third quarter valued at $6,233,000. FMR LLC boosted its stake in shares of XPeng by 1,053.8% during the third quarter. FMR LLC now owns 323,581 shares of the company’s stock valued at $3,941,000 after purchasing an additional 295,536 shares during the period. Savant Capital LLC bought a new position in shares of XPeng in the fourth quarter worth about $229,000. Finally, TMT General Partner Ltd purchased a new position in XPeng in the 4th quarter worth about $205,501,000. Institutional investors own 21.09% of the company’s stock.

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.