XPeng (NYSE:XPEV) Trading Down 7% – What’s Next?

XPeng Inc. (NYSE:XPEV) dropped 7% on Friday . The stock traded as low as $23.42 and last traded at $23.57. Approximately 7,612,412 shares were traded during trading, a decline of 43% from the average daily volume of 13,277,888 shares. The stock had previously closed at $25.35.

Analyst Upgrades and Downgrades

XPEV has been the subject of several recent research reports. UBS Group raised XPeng from a “sell” rating to a “neutral” rating and upped their price target for the company from $8.80 to $18.00 in a report on Monday, February 24th. China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a research report on Friday, November 22nd. Macquarie reissued a “neutral” rating and issued a $18.00 price target on shares of XPeng in a research note on Friday, February 7th. Citigroup raised XPeng from a “neutral” rating to a “buy” rating and increased their price target for the company from $13.70 to $29.00 in a research note on Monday. Finally, Sanford C. Bernstein raised their price objective on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.63.

XPeng Stock Down 6.8 %

The firm has a market cap of $22.26 billion, a P/E ratio of -27.18 and a beta of 2.68. The firm’s fifty day moving average is $16.98 and its 200 day moving average is $13.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

Hedge Funds Weigh In On XPeng

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock valued at $30,000 after acquiring an additional 898 shares during the period. Avior Wealth Management LLC boosted its holdings in XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after purchasing an additional 2,564 shares during the period. Lindbrook Capital LLC grew its position in shares of XPeng by 50.7% during the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after purchasing an additional 1,138 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of XPeng during the fourth quarter worth approximately $41,000. Finally, Natixis acquired a new stake in shares of XPeng in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 21.09% 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.