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

Shares of XPeng Inc. (NYSE:XPEV) gapped down before the market opened on Tuesday . The stock had previously closed at $15.30, but opened at $14.45. XPeng shares last traded at $14.31, with a volume of 3,617,592 shares.

Wall Street Analyst Weigh In

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

XPeng Stock Down 2.2 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50. The company has a fifty day simple moving average of $11.28 and a two-hundred day simple moving average of $9.10. The firm has a market capitalization of $12.60 billion, a PE ratio of -10.96 and a beta of 2.80.

XPeng (NYSE:XPEV) last posted its earnings results on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. The business had revenue of $1.12 billion for the quarter. Analysts forecast that XPeng Inc. will post -1 EPS for the current fiscal year.

Hedge Funds Weigh In On XPeng

A number of large investors have recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in shares of XPeng by 212.1% in the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after acquiring an additional 2,724,549 shares during the period. Primecap Management Co. CA grew its stake in XPeng by 5.6% in the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after purchasing an additional 872,160 shares during the last quarter. Point72 Europe London LLP purchased a new position in XPeng in the second quarter valued at about $5,923,000. Russell Investments Group Ltd. raised its holdings in XPeng by 73.7% in the first quarter. Russell Investments Group Ltd. now owns 1,415,568 shares of the company’s stock worth $10,872,000 after purchasing an additional 600,437 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of XPeng by 100.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after buying an additional 550,000 shares in the last quarter. Institutional investors own 23.05% 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.