XPeng (NYSE:XPEV) Shares Down 3.6% – Should You Sell?

XPeng Inc. (NYSE:XPEV)’s share price was down 3.6% on Friday . The stock traded as low as $12.29 and last traded at $12.35. Approximately 1,397,065 shares traded hands during trading, a decline of 90% from the average daily volume of 13,557,773 shares. The stock had previously closed at $12.81.

Analyst Ratings Changes

Several research analysts have recently weighed in on XPEV shares. JPMorgan Chase & Co. upgraded 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 report on Thursday, September 5th. China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price on the stock in a report on Friday, November 22nd. Citigroup lowered their target price on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. The Goldman Sachs Group cut XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective on the stock. in a report on Thursday, November 21st. Finally, Sanford C. Bernstein upped their price objective on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.69.

XPeng Trading Down 4.0 %

The company has a market cap of $11.59 billion, a PE ratio of -14.14 and a beta of 2.76. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The business has a 50-day simple moving average of $12.27 and a 200-day simple moving average of $9.74.

Institutional Trading of XPeng

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. raised its position in XPeng by 122.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after purchasing an additional 2,920 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of XPeng during the third quarter worth $45,000. Blue Trust Inc. increased its position in shares of XPeng by 2,615.9% during the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock worth $75,000 after acquiring an additional 9,391 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of XPeng during the third quarter worth $110,000. Finally, Susquehanna International Securities Ltd. purchased a new stake in shares of XPeng during the second quarter worth $129,000. Hedge funds and other institutional investors own 21.09% of the company’s stock.

About XPeng

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.