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

XPeng Inc. (NYSE:XPEV)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $11.05, but opened at $10.70. XPeng shares last traded at $10.56, with a volume of 1,933,041 shares changing hands.

Wall Street Analyst Weigh In

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

XPeng Stock Down 5.4 %

The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $9.39 and a 200 day simple moving average of $8.45. The firm has a market capitalization of $9.84 billion, a PE ratio of -8.60 and a beta of 2.79.

XPeng (NYSE:XPEV) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. The firm had revenue of $1.12 billion for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. As a group, sell-side analysts forecast that XPeng Inc. will post -0.95 earnings per share for the current year.

Institutional Trading of XPeng

Large investors have recently modified their holdings of the business. Creative Planning lifted its holdings in XPeng by 20.3% in the 3rd quarter. Creative Planning now owns 39,725 shares of the company’s stock worth $484,000 after buying an additional 6,704 shares during the period. Atomi Financial Group Inc. purchased a new stake in XPeng in the third quarter worth $129,000. Green Alpha Advisors LLC boosted its holdings in XPeng by 32.1% in the third quarter. Green Alpha Advisors LLC now owns 40,608 shares of the company’s stock valued at $495,000 after acquiring an additional 9,878 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new position in XPeng during the 3rd quarter valued at $172,000. Finally, Susquehanna International Securities Ltd. bought a new position in XPeng in the 2nd quarter worth $129,000. 23.05% of the stock is owned by institutional investors.

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.