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

XPeng Inc. (NYSE:XPEV)’s stock price gapped down prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

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

XPeng Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31. The stock’s 50 day simple moving average is $11.08 and its two-hundred day simple moving average is $9.03. The stock has a market cap of $12.88 billion, a price-to-earnings ratio of -11.64 and a beta of 2.80.

XPeng (NYSE:XPEV) last issued 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 firm had revenue of $1.12 billion during the quarter. On average, analysts forecast that XPeng Inc. will post -1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in XPEV. Citigroup Inc. increased its stake in shares of XPeng by 14.2% in the 3rd quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock valued at $3,573,000 after acquiring an additional 36,560 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of XPeng by 48.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company’s stock valued at $604,000 after acquiring an additional 16,289 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd increased its stake in shares of XPeng by 36.0% in the 3rd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock valued at $4,969,000 after acquiring an additional 108,000 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of XPeng in the 3rd quarter valued at about $110,000. Finally, Van ECK Associates Corp increased its stake in shares of XPeng by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 222,337 shares of the company’s stock valued at $2,481,000 after acquiring an additional 10,148 shares during the last quarter. Institutional investors and hedge funds 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.