XPENG (NYSE:XPEV) Shares Gap Down – Time to Sell?

XPENG Inc. Sponsored ADR (NYSE:XPEV) gapped down before the market opened on Wednesday. The stock had previously closed at $9.91, but opened at $9.52. XPENG shares last traded at $9.3950, with a volume of 2,199,408 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on XPEV shares. JPMorgan Chase & Co. downgraded XPENG from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $24.00 to $11.50 in a report on Tuesday, September 29th. UBS Group started coverage on XPENG in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $12.00 price target on the stock. Weiss Ratings cut XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 14th. Finally, Barclays reduced their price objective on shares of XPENG from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, XPENG currently has a consensus rating of “Hold” and a consensus target price of $22.09.

XPENG Trading Down 6.0%

The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $8.89 billion, a P/E ratio of -19.39 and a beta of 1.07. The firm’s 50 day simple moving average is $10.57 and its two-hundred day simple moving average is $13.34.

Hedge Funds Weigh In On XPENG

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nykredit A S acquired a new stake in shares of XPENG in the 2nd quarter valued at about $825,000. TD Waterhouse Canada Inc. increased its position in XPENG by 91.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 6,680 shares of the company’s stock valued at $91,000 after buying an additional 3,190 shares in the last quarter. CX Institutional acquired a new position in XPENG during the 3rd quarter worth approximately $60,000. QRG Capital Management Inc. acquired a new position in XPENG during the 2nd quarter worth approximately $187,000. Finally, Integrated Wealth Concepts LLC acquired a new position in XPENG during the 2nd quarter worth approximately $81,000. Institutional investors own 21.09% of the company’s stock.

XPENG Company Profile

XPeng Inc is a China-based technology company focused on the design, development, manufacture and sale of smart electric vehicles. The company combines electric powertrain technology with software, connectivity and advanced driver-assistance features to develop vehicles intended for digitally connected and increasingly automated transportation.

XPeng’s product portfolio has included electric sedans, sport utility vehicles and multipurpose vehicles, such as the P7 sedan, P5 sedan, G6 and G9 SUVs, and X9 multipurpose vehicle.