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

Shares of XPeng Inc. (NYSE:XPEV) gapped down before the market opened on Tuesday . The stock had previously closed at $21.39, but opened at $20.41. XPeng shares last traded at $21.04, with a volume of 3,344,551 shares.

Analysts Set New Price Targets

Several research firms recently weighed in on XPEV. JPMorgan Chase & Co. reduced their target price on XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 19th. Daiwa America lowered shares of XPeng from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 19th. Citigroup upgraded shares of XPeng from a “neutral” rating to a “buy” rating and boosted their target price for the company from $13.70 to $29.00 in a report on Monday, March 10th. Nomura Securities raised shares of XPeng to a “strong-buy” rating in a research note on Tuesday, March 18th. Finally, Macquarie reissued a “neutral” rating and set a $18.00 price objective on shares of XPeng in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $21.84.

XPeng Trading Down 1.9 %

The firm has a fifty day moving average of $18.48 and a 200-day moving average of $14.18. The stock has a market capitalization of $19.76 billion, a price-to-earnings ratio of -24.11 and a beta of 2.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

XPeng (NYSE:XPEV) last posted its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.36) by $1.17. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. As a group, equities analysts predict that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XPEV. Public Employees Retirement System of Ohio acquired a new position in XPeng in the 4th quarter worth $70,000. Vise Technologies Inc. acquired a new position in shares of XPeng in the fourth quarter worth about $142,000. Vident Advisory LLC boosted its holdings in XPeng by 7.6% in the fourth quarter. Vident Advisory LLC now owns 53,632 shares of the company’s stock valued at $634,000 after purchasing an additional 3,810 shares during the last quarter. Twinbeech Capital LP grew its stake in XPeng by 22.4% during the 4th quarter. Twinbeech Capital LP now owns 407,097 shares of the company’s stock valued at $4,812,000 after purchasing an additional 74,574 shares in the last quarter. Finally, Polar Capital Holdings Plc purchased a new stake in XPeng during the 4th quarter worth approximately $6,596,000. 21.09% of the stock is currently owned by hedge funds and other 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.