XPeng (NYSE:XPEV) Shares Gap Down – Here’s What Happened

XPeng Inc. (NYSE:XPEV)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $22.25, but opened at $21.29. XPeng shares last traded at $20.78, with a volume of 4,538,158 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on XPEV shares. Macquarie reiterated a “neutral” rating and set a $18.00 price objective on shares of XPeng in a report on Friday, February 7th. Bank of America lifted their price target on shares of XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, March 19th. Daiwa Capital Markets reiterated a “neutral” rating and issued a $24.00 price target on shares of XPeng in a report on Wednesday, March 19th. JPMorgan Chase & Co. dropped their price objective on shares of XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, March 19th. Finally, Sanford C. Bernstein set a $19.00 target price on shares of XPeng and gave the stock a “market perform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.29.

XPeng Stock Down 2.5%

The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The firm’s 50 day simple moving average is $19.84 and its 200-day simple moving average is $16.86. The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of -22.97 and a beta of 2.64.

XPeng (NYSE:XPEV) last announced its quarterly earnings data on Wednesday, May 21st. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($1.51) by $1.41. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $15.80 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. Equities analysts expect that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On XPeng

Institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in XPeng by 70.1% during the first quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company’s stock worth $27,000 after buying an additional 532 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of XPeng by 55.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after acquiring an additional 898 shares during the period. Atlas Capital Advisors Inc. increased its holdings in shares of XPeng by 651.0% during the 1st quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company’s stock worth $31,000 after acquiring an additional 1,302 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of XPeng by 1,215.2% during the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock worth $33,000 after acquiring an additional 2,564 shares during the last quarter. Finally, Garde Capital Inc. bought a new stake in XPeng in the 1st quarter valued at $39,000. 21.09% of the stock is owned by institutional investors.

About XPeng

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.