XPeng (NYSE:XPEV) Shares Down 5.8% – What’s Next?

Shares of XPeng Inc. Sponsored ADR (NYSE:XPEV) fell 5.8% during trading on Wednesday . The stock traded as low as $21.48 and last traded at $21.3070. 4,735,757 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 10,176,941 shares. The stock had previously closed at $22.62.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BNP Paribas started coverage on shares of XPeng in a research report on Monday, August 18th. They set a “hold” rating on the stock. Citigroup lifted their target price on shares of XPeng from $29.00 to $29.40 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Bank of America boosted their target price on XPeng from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, August 19th. Macquarie increased their price target on XPeng from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of XPeng in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, XPeng presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.70.

XPeng Stock Up 1.3%

The firm has a market capitalization of $19.32 billion, a PE ratio of -48.48 and a beta of 2.54. The stock has a 50-day simple moving average of $22.68 and a 200-day simple moving average of $20.69. The company has a quick ratio of 1.00, a current ratio of 1.12 and a debt-to-equity ratio of 0.24.

XPeng (NYSE:XPEV) last issued its quarterly earnings results on Monday, November 17th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.41. XPeng had a negative return on equity of 9.25% and a negative net margin of 4.02%.The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $20.48 billion. Analysts forecast that XPeng Inc. Sponsored ADR will post -0.96 EPS for the current year.

Institutional Trading of XPeng

Hedge funds and other institutional investors have recently modified their holdings of the business. Atlas Capital Advisors Inc. boosted its holdings in XPeng by 651.0% in the 1st quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company’s stock worth $31,000 after buying an additional 1,302 shares during the period. SVB Wealth LLC bought a new stake in XPeng during the 1st quarter valued at $46,000. Bayforest Capital Ltd lifted its position in shares of XPeng by 145.5% during the first quarter. Bayforest Capital Ltd now owns 2,283 shares of the company’s stock worth $47,000 after acquiring an additional 1,353 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of XPeng in the first quarter worth $54,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of XPeng by 16.9% in the third quarter. EverSource Wealth Advisors LLC now owns 2,694 shares of the company’s stock valued at $63,000 after purchasing an additional 389 shares in the last quarter. Institutional investors own 21.09% of the company’s stock.

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.